Emaar Development shares fall 4.3% on DFM listing debut
At close of Dubai Financial Market, Emaar unit shares are priced at AED5.77 from IPO price of AED6.03
By Staff writer
Wed 22 Nov 2017 04:33 PM
The share price of Emaar Development, the property development business of Emaar Properties, closed down on the first day they were listed on the Dubai Financial Market (DFM).
Shares were priced at AED5.77 per share, down from its initial public offer price of AED6.03 per share, a fall of 4.3 percent.
According to data on the DFM website, Emaar Development shares were the most active by value which totalled more than AED279 million.
Emaar Properties shares, however, rose 2.6 percent to AED7.80 at the close, up from AED7.50.
Speaking at a bell ringing ceremony on Wednesday morning, Emaar Properties chairman Mohamed Alabbar said that the listing of the shares marked “a transformative day” for Emaar Development.
“Already a flagship..Read More