The Dubai Financial Market attracted 35,000 new investors during the first nine months of this year, with the percentage of foreigners among them reaching 72 percent.
Hamed Ali, CEO of the Dubai Financial Market and Nasdaq Dubai, revealed that there is a noticeable trend among foreigners towards enhancing their activity in the secondary market by a rate that has risen to 47 percent.
The CEO of the Dubai Financial Market and Nasdaq Dubai explained that their share now reaches 20 percent of the total market value, according to a press release issued today, Thursday.
The Dubai Financial Market announced the organization of its second edition of the Global Investors Conference in New York, in cooperation with JP Morgan, during the period 20 to 21 November 2023, with the aim of providing an opportunity for global investors to communicate with companies based in Dubai, and to explore investment prospects in the UAE.
Today, Thursday, the Dubai Financial Market revealed the transfer of Al Salam Bank Sudan’s shares to the second category, starting today, and the transfer decision came based on the decision of the Chairman of the Authority’s Board of Directors No. (13/R.M) of 2020 regarding procedures for dealing with troubled listed public joint-stock companies.
It is noteworthy that Al Salam Bank Sudan shares have been suspended from trading since May 2023, due to failure to disclose its financial statements for the first quarter of 2023.
During its earlier meeting, the Board of Directors of the Dubai Financial Market Company decided to issue regulations for the listing and trading of cooperative societies’ shares.
The company said that its Board of Directors decided to issue listing rules for companies established for the purposes of acquisition and merger.
In February 2022, the UAE Cabinet adopted a decision regarding the trading of cooperative societies’ shares in the country’s financial markets, aiming to strengthen the regulatory environment for the cooperative sector and raise its competitiveness in line with the country’s trends.
The decision aims to develop the regulatory and supervisory process for stock trading in financial markets within the country, and to create new opportunities for improvement and development with regard to trading in cooperative shares.
During the first half of 2022, the Dubai Financial Market attracted about 70,432 new investors, compared to 1,842 at the end of the same period in 2021.
The total number of investors registered in the Dubai Financial Market increased by the end of June 2022 to 921,550 investors belonging to 212 nationalities, an increase of 38 times.
Foreign investors constituted 72 percent of the new investors. Moreover, the number of new investment institutions in the market during the first half reached 426 institutions, including 303 foreign institutions.
The total market value of listed securities rose to 527 billion dirhams, an increase of 28.2 percent compared to its level at the end of 2021, which amounted to 411 billion dirhams.
The Dubai Financial Market maintained its attractiveness to foreign investors, as they acquired 47 percent of its trading value during the first half, with net purchases worth 2.6 billion dirhams.
Their ownership percentage reached 19.8 percent of the total market value of shares listed on the market at the end of June 2022, and the share of institutional investment in the total trading peak reached 53.6 percent, which reflects the confidence of local and international investors in the market.
The company announced that its profits increased by 63 percent by the end of the first half of the year ending on June 30, 2022.
The company showed in a statement that it achieved net profits of 63.4 million dirhams, compared to 38.8 million dirhams in the same period of the year 2021.
The company's net profits increased by 134% during the second quarter of 2022 to 35.9 million dirhams, compared to 15.3 million dirhams in the second quarter of 2021.
