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UAE markets ease in September as Saudi rally powers GCC’s strongest monthly gains in nearly two years
YTD, ADX is up 6.3% and DFM is up 13.2%
Alec’s Dubai IPO to closed 21x oversubscribed, raises AED 1.4 bn
Trading is set to kick off on Wednesday, 15 October
THIS MORNING: Dubai’s KHDA mulls initiatives to lower private school tuition fees + ADX to add three more exchanges to Tabadul this year
Plus: Tadweer launches new waste collection arm
Alec Holding’s Dubai IPO sells out in hours
The IPO could raise up to AED 1.4 bn at the top of the range
Mubadala wraps AED 3.2 bn du follow-on offering
This is the first fully-marketed secondary share offer in the UAE
Alec Holdings set to become Dubai’s first corporate IPO this year
Subscriptions will run from 23-30 September.
Abu Dhabi sees biggest earnings growth in the region in 2Q, while earnings in Dubai were down
Abu Dhabi-listed companies' net income rose 18.3% y-o-y, while Dubai-listed firms’ fell 5.7% during the quarter
Foreign trades surpass local ones on the DFM for the first time
The DFM General Index is up 18.6% YTD, extending its run as the Gulf’s best-performing benchmark for a third year
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