Market Cap of Second Market - Listed Companies Rise to AED10.32 BnSource: www.export-egypt.com 9/9/2020, Location: Middle East |
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The market cap of UAE second market-listed private companies amounted to around AED10.32 bn by the end of August, 1.7 percent up from the same month last year, according to official figures obtained by the Emirates News Agency (WAM).
The UAE started trading in second markets on 2014 in a move that aimed to boost liquidity for private companies and pave the way for its IPO in the primary market. The second market is market segment within the existing infrastructure of securities market to list private companies wherein investors are able to buy and sell shares of private company depending on fundamentals like supply, demand, financial statements and other disclosures. There are six firms now listed in the UAE second markets, five of which at the Abu Dhabi Securities Exchange and one in Dubai Financial Market. These are Manazel, with a market cap of AED2.6 bn; Wahat Al Zaweya Holding PJSC, AED2.31 bn; Al Qudra Holding, AED808 million; Reem Investments, AED777 million; The National Investor, AED577 million; and BH Mubasher, AED132 million. |
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