UAE News: Nasdaq Dubai Dealt Blow as Biggest Firm Opts to Delist - Bloomberg:
Nasdaq Dubai is about to lose its most valuable stock after DP World Ltd. announced plans to go private.
The departure of the ports operator, which has a market capitalization of $11 billion, will increase the gap in trading turnover between Nasdaq Dubai and the two larger United Arab Emirates exchanges. The value of equities changing hands in January on the platform was close to $117 million, compared with about $1.1 billion at the Dubai Financial Market PJSC and $757 million at the Abu Dhabi Securities Exchange.
The delisting of DP World, the U.A.E.’s seventh-largest company by market value, according to data compiled by Bloomberg, means the loss of a stock that international investors “follow very closely,” but which has suffered from a lack of liquidity, according to Ahmed Hazem Maher, an equities analyst at EFG-Hermes in Cairo.
Nasdaq Dubai is about to lose its most valuable stock after DP World Ltd. announced plans to go private.
The departure of the ports operator, which has a market capitalization of $11 billion, will increase the gap in trading turnover between Nasdaq Dubai and the two larger United Arab Emirates exchanges. The value of equities changing hands in January on the platform was close to $117 million, compared with about $1.1 billion at the Dubai Financial Market PJSC and $757 million at the Abu Dhabi Securities Exchange.
The delisting of DP World, the U.A.E.’s seventh-largest company by market value, according to data compiled by Bloomberg, means the loss of a stock that international investors “follow very closely,” but which has suffered from a lack of liquidity, according to Ahmed Hazem Maher, an equities analyst at EFG-Hermes in Cairo.
No comments:
Post a Comment