Thursday 25 September 2014

Marka Jumps on Trading Debut in DFM’s First IPO Since 2009 - Bloomberg

Marka Jumps on Trading Debut in DFM’s First IPO Since 2009 - Bloomberg:



"Marka PJSC (MARKA), a Dubai-based retail operator, rose 80 percent on its first day of trading in Dubai.



Marka shares jumped to 1.8 dirhams at 10:01 a.m. local time, as 11.7 million shares were traded. There are no limits on how much a stock can rise or decline on its first day of trading. The DFM General Index advanced 0.2 percent to 5,074.23. 




“Commencing trading is a major achievement for both Marka and our shareholders,” Khaled AlMheiri, vice chairman of Marka’s board of directors, said in e-mailed comments yesterday. “The company is currently looking at prospective acquisition opportunities that will reflect positively on the company’s revenues and profitability, in the near term.”"



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