Abu Dhabi National Hotels Company to sell of share of catering division in ADX IPO
Equities
Abu Dhabi
TAQA successfully prices $1.75bn dual-tranche bond offering
Prices a $850 million 12-year green bond at a coupon rate of 4.75%; $900 million 7-year conventional bonds bear a rate of 4.375%
Abu Dhabi
Fertiglobe announces $150mn interim dividend for H1 2024
The approved dividend is equivalent to 6.6fils per share and takes the total dividend since IPO to $2.42 billion
Abu Dhabi
ADNH Catering to offer 40% of stake through IPO next week
Subsidiary of Abu Dhabi National Hotel Company, ADNH Catering has 28% share of addressable market in UAE and Saudi and serves 11 million meals monthly
Bayanat
ADX: Bayanat to change name to Space42 following Yahsat merger on October 1
Bayanat and Yahsat to merge on October 1 to form Space42
banking services
Egypt Central Bank to list United Bank stake on stock exchange by Q1 2025
Completion of the Offering is expected to take place before the end of the first quarter of 2025
Sukuk
UAE treasury bonds and sukuk hit $6.8bn milestone
Both programmes have seen strong demand, with auctions consistently oversubscribed
Abu Dhabi Securities Exchange
Abu Dhabi announces major financial rules for listed companies
Abu Dhabi Securities Exchange reveals new guidelines for listed companies in the emirate
Artificial intelligence
Microsoft announces share buyback plan of up to $60 billion
Under pressure from investors to show results of its huge investments into AI, it also increases the quarterly dividend by 10 percent
DFM equity market
How to invest in UAE stocks without paying transaction fees
Emirates NBD launches new initiative to let customers invest in UAE equity markets
Bajaj Housing Finance
India’s largest IPO issue Bajaj Housing Finance debuts market trading with a 114% premium
The company shares were trading at Rs 150 a piece on the National Stock Exchange against its issue price of Rs 70 per equity share
Bajaj Housing Finance
Bajaj Housing Finance shatters all records amidst India’s IPO frenzy
The $782 million issue oversubscribed 63.6 times and attracted bids worth $38,6 billion – more than 1% of India’s GDP last year
Abu Dhabi Securities Exchange
UAE IPO: NMDC Energy shares end day up 8% in year’s biggest offering
NMDC Energy shares soared more than 21 per cent after IPO in the UAE
Abu Dhabi Securities Exchange
Revealed: 20 largest companies on UAE stock exchanges on track for $1.6tn market cap
The largest companies listed on UAE stock markets are on track to to reach a market capitalisation of $1.6tn
Kuwait
Kuwait’s EQUATE Group reports $348mn net income in H1 2024, up 291% YoY
The company also reported total revenue of $1.86 billion in the first half of this year
Abu Dhabi Securities Exchange
NMDC Energy IPO oversubscribed by 31 times as record offering generates $24bn demand for UAE listing
NMDC Energy set to raise $877m in massive UAE IPO
Abu Dhabi
Borouge shareholders approve $650 million interim dividend
Dividend equates to 7.94 fils per share for first half of 2024; Last date of purchase is 5 Sep and record date set for 9 Sep