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Spinneys’ shares rose up to 11% on its trading debut on the Dubai Financial Market (DFM) on Thursday, 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.
This marks the third successful IPO of the year in the UAE, following Parkin and Agility Global’s successful debuts. Parkin had raised some AED 1.57 bn as the first IPO of the year in the country, while Agility Global’s technical listing on the ADX saw its share price jump more than fourfold on its first day of trading.
Advisors: Our friends at HSBC Middle East are joint global coordinators alongside Emirates NBD Capital and Merrill Lynch. Our friends at EFG Hermes are joint bookrunners, while Rothschild Middle East is independent financial advisor. Emirates NBD Capital is also acting as listing advisor, while Emirates NBD Bank is lead receiving bank. Other receiving banks include our friends at FAB as well as MBank and Commercial Bank of Dubai.
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TASI |
12,284 |
-1.4% (YTD: +2.7%) |
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MSCI Tadawul 30 |
1,537 |
-1.3% (YTD: -0.9%) |
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NomuC |
27,086 |
+0.7% (YTD: +10.4%) |
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USD : SAR (SAMA) |
3.75 Sell |
3.75 Buy |
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Interest rates |
6% repo |
5.5% reverse repo |
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EGX30 |
26,003 |
+0.1% (YTD: +4.5%) |
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ADX |
9,090 |
-0.3% (YTD: -5.1%) |
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DFM |
4,173 |
-0.2% (YTD: +2.8%) |
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S&P 500 |
5,223 |
+0.2% (YTD: +9.5%) |
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FTSE 100 |
8,433 |
+0.6% (YTD: +9.1%) |
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Euro Stoxx 50 |
5,085 |
+0.6% (YTD: +12.5%) |
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Brent crude |
USD 82.79 |
-1.3% |
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Natural gas (Nymex) |
USD 2.25 |
-2.1% |
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Gold |
USD 2,375.00 |
+1.5% |
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BTC |
USD 60,892 |
+0.1% (YTD: +44.9%) |
THE CLOSING BELL: TADAWUL-
The TASI fell 1.4% on Thursday on turnover of SAR 7.3 bn. The index is up 2.7% YTD.
In the green: Al Babtain (+7.8%), Retal (+5.3%) and Tanmiah (+5.2%).
In the red: Gulf Union AlAhlia (-10%), Acig (-8.1%) and Al Etihad (-8%).
THE CLOSING BELL: NOMU-
The NomuC rose 0.7% on Thursday on turnover of SAR 52.4 mn. The index is up 10.4% YTD.
In the green: Balady (+24.9%), Pro Medex (+8.8%) and Academy of Learning (+5.2%).
In the red: Dar AlMarkabah (-5.5%), Sure (-5.3%) and Molan (-4.2%)
