{"id":619835,"date":"2024-05-12T00:00:00","date_gmt":"2024-05-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/12\/spinneys-share-jump-on-market-debut\/"},"modified":"2024-05-12T00:00:00","modified_gmt":"2024-05-12T00:00:00","slug":"spinneys-share-jump-on-market-debut","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/12\/spinneys-share-jump-on-market-debut\/","title":{"rendered":"Spinneys share jump on market debut"},"content":{"rendered":"

Spinneys\u2019 shares<\/strong> rose up to 11% on its trading debut on the Dubai Financial Market <\/strong>(DFM) on Thursday<\/strong>, before settling up nearly 5% at AED 1.6. Shares opened at AED 1.7, up from the final set price of AED 1.53. The IPO had raised AED 1.38 bn after receiving more than AED 71 bn in orders, marking a successful, rare listing of a private family business in Dubai.<\/p>\n

This marks the third successful IPO of the year in the UAE<\/strong>, following Parkin and Agility Global\u2019s successful debuts. Parkin had raised some AED 1.57 bn<\/a> as the first IPO of the year in the country, while Agility Global\u2019s technical listing on the ADX saw its share price jump<\/a> more than fourfold on its first day of trading. <\/p>\n

Advisors: <\/strong>Our friends at HSBC Middle East<\/strong> are joint global coordinators alongside Emirates NBD Capital<\/strong> and Merrill Lynch<\/strong>. Our friends at EFG Hermes<\/strong> are joint bookrunners, while Rothschild Middle East <\/strong>is independent financial advisor. Emirates NBD Capital<\/strong> is also acting as listing advisor, while Emirates NBD Bank<\/strong> is lead receiving bank. Other receiving banks include our friends at FAB<\/strong> as well as MBank<\/strong> and Commercial Bank of Dubai<\/strong>.<\/p>\n

<\/a><\/a> <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30<\/strong><\/p>\n<\/td>\n

\n

26,003<\/p>\n<\/td>\n

\n

+0.1% (YTD: +4.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 47.27<\/p>\n<\/td>\n

\n

Sell 47.40<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CIB<\/strong>)<\/strong><\/p>\n<\/td>\n

\n

Buy 47.30<\/p>\n<\/td>\n

\n

Sell 47.40<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/strong><\/p>\n<\/td>\n

\n

27.25% deposit<\/p>\n<\/td>\n

\n

28.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

12,284<\/p>\n<\/td>\n

\n

-1.4% (YTD: +2.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

9,090<\/p>\n<\/td>\n

\n

-0.3% (YTD: -5.1%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

4,173<\/p>\n<\/td>\n

\n

-0.2% (YTD: +2.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

5,223<\/p>\n<\/td>\n

\n

+0.2% (YTD: +9.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

8,434<\/p>\n<\/td>\n

\n

+0.6% (YTD: +9.1%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/strong><\/p>\n<\/td>\n

\n

5,085<\/p>\n<\/td>\n

\n

+0.6% (YTD: +12.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 82.79<\/p>\n<\/td>\n

\n

-1.3%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 2.25<\/p>\n<\/td>\n

\n

-2.1%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 2,375.00<\/p>\n<\/td>\n

\n

+1.5%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 61,013<\/p>\n<\/td>\n

\n

+0.8% (YTD: +44.2%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/p>\n

The EGX30 rose 0.1% at <\/strong>Thursday\u2019s <\/strong>close<\/strong> on turnover of EGP 2.8 bn (42.8% below the 90-day average). Local investors were net buyers. The index is up 4.5% YTD.<\/p>\n

In the green: <\/strong>Egypt Kuwait Holding -EGP (+7.2%), Abu Qir Fertilizers (+3.2%), and Ezz Steel (+2.1%).<\/p>\n

In the red: <\/strong>Qalaa Holdings (-7.5%), Orascom Construction (-3.3%), and Telecom Egypt (-2.0%).<\/p>\n","protected":false},"excerpt":{"rendered":"

Spinneys\u2019 shares rose up to 11% on its trading debut on the Dubai Financial Market (DFM) on Thursday, before settling up nearly 5% at AED 1.6. Shares opened at AED 1.7, up from the final set price of AED 1.53. The IPO had raised AED 1.38 bn after receiving more than AED 71 bn in […]<\/p>\n","protected":false},"author":1,"featured_media":619836,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[72,119,78,122,9009],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-619835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-enterpriseam","tag-financial-markets","tag-ipo-watch","tag-planet-finance","tag-spinneys-2","wpautop","entry"],"acf":{"mongo_id":"f8acc8d5-3875-4164-b8a9-2415b7cfe71e","order":"10","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/708.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Spinneys share jump on market debut","related_issue":[619818],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.e8c3b128-01b4-4571-a091-efcc66d3eb8d.mp3"},"yoast_head":"\nSpinneys share jump on market debut - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/12\/spinneys-share-jump-on-market-debut\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spinneys share jump on market debut\" \/>\n<meta property=\"og:description\" content=\"Spinneys\u2019 shares rose up to 11% on its trading debut on the Dubai Financial Market (DFM) on Thursday, before settling up nearly 5% at AED 1.6. 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USD 429 mn) from its IPO, with over AED 259 bn in orders from local, regional, and international investors at the close of the offering period, according to a statement (pdf). The order book was 165x oversubscribed, breaking the Dubai\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1299.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":584229,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/28\/al-ansari-raises-usd-210-mn-in-dubai-ipo\/","url_meta":{"origin":619835,"position":2},"title":"Al Ansari raises USD 210 mn in Dubai IPO","author":"enterpriseam admin","date":"28 March 2023","format":false,"excerpt":"The sale was 22x oversubscribed","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/508.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":611852,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/13\/the-gulf-ipo-boom-shows-no-signs-of-slowing\/","url_meta":{"origin":619835,"position":3},"title":"The Gulf IPO boom shows no signs of slowing","author":"enterpriseam admin","date":"13 December 2023","format":false,"excerpt":"Investors pile into Gulf IPOs: The IPOs of Saudi broadcaster MBC and Emiratihealthcare firm PureHealth have attracted a combined USD 86.5 bn in bids as investor demand for Gulf companies continues apace. #1- PureHealth prices shares in c. 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