Due to the inclusion of a data firm and the Abu Dhabi Market, UAE equities managed to make significant advances during the first week of November.
UAE stocks gained approximately 148 by the conclusion of this week. 5 billion dirhams were increasing by 149. Losses of around 535 million dirhams on the Dubai Financial Market and losses of 1 billion dirhams on the Abu Dhabi Market.
Last Monday, the Abu Dhabi Securities Market witnessed the inclusion of the “ABLC Data” company, the leading company in spatial geographical solutions that work with high -growth artificial intelligence in the region, and it is the first active company in the technology sector to be included in the financial market after the completion of Its initial publication successfully.
One was chosen as the offering’s cost, or price.
10 dirhams for the ordinary share, with a total value of the offering of the offering of about 628. 57 million dirhams, equivalent to 22. 22% of the capital of a data company at the listing.
Investor interest in the plan was high; the total demand for the offering, excluding strategic investors, reached 57. 5 billion dirhams, exceeding the subscription limit by 379 times and by 90 times overall.
The stock increased by 273% during the first data sessions in the Abu Dhabi market, doubling or nearly tripling the share price and setting the bar for worldwide shares during the first global trading session.
The number of firms registered in the Abu Dhabi Securities Market has increased to 88 with this listing; interestingly, the market value of the listed companies was 2. 38 trillion dirhams on October 28, 2022.
A surge of public subscriptions and listing activities were seen on the Abu Dhabi Securities Market this year, including the inclusion of “Borouge,” “Burjeel Holding,” “AIA Data,” “Abu Dhabi Ports,” “Gulf Investment House,” “GFH,” Inficitos Investment,” and EDC Corporation for acquisition.
The Abu Dhabi Index gained by 1.8% throughout the course of the current week, setting a new high of 10455 points.
26 more power shares were added as a result.
The Motiplay Group increased by 11. 11%, pillars of building materials increased by 29. 1%, and Abu Dhabi First increased by 4. 05%.
The Dubai Financial Market also increased by just one point over the week, reaching a level of 3350 points.
Gains in UAE stocks of 148.5 billion dirhams during the first week of November
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