{"id":91867,"date":"2024-05-10T00:00:00","date_gmt":"2024-05-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/spinneys-share-jump-on-market-debut\/"},"modified":"2024-05-10T00:00:00","modified_gmt":"2024-05-10T00:00:00","slug":"spinneys-share-jump-on-market-debut","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/05\/10\/spinneys-share-jump-on-market-debut\/","title":{"rendered":"Spinneys share jump on market debut"},"content":{"rendered":"

Spinneys\u2019 shares rose up to <\/strong>11% on its trading debut on the Dubai Financial Market <\/strong>(DFM) yesterday<\/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 <\/span>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 <\/span>saw its share price jump<\/a> more than fourfold on its first day of trading.<\/span><\/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

The news got ink <\/strong>in the Financial Times<\/a> and Bloomberg<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

The IPO marks the third successful listing in the UAE this year<\/p>\n","protected":false},"author":1,"featured_media":91868,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[1560],"tags":[130,149,642,1158],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-dfm","tag-ipo-watch","tag-retail","tag-spinneys","wpautop","entry"],"acf":{"mongo_id":"65ee8d31-39fa-4506-ac4e-bdf3e240be04","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/672.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Spinneys share jump on market debut","related_issue":[91863],"teaser":"The IPO marks the third successful listing in the UAE this year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.a0227145-abff-40a2-9ff6-cd731fbe2439.mp3"},"yoast_head":"\nSpinneys share jump on market debut - 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