1.6 billion dirhams, the value of 9 large deals executed in the Dubai and Abu Dhabi markets during Ramadan.
From / Rami Samih..
ABU DHABI, 7 APRIL / WAM / The Abu Dhabi Securities Market and the Dubai Financial Market witnessed the execution of 9 large deals with a value exceeding 1.6 billion dirhams, on 305.7 million shares during the holy month of Ramadan.
According to monitoring by the Emirates News Agency, WAM, based on market data, the Abu Dhabi market witnessed the execution of 5 large transactions during the month of Ramadan on 243.4 million shares, worth 683.3 million dirhams.
The large deals executed on the Abu Dhabi Securities Market included one deal on “A&” worth 509.8 million dirhams for 27.7 million shares at a price of 18.34 dirhams, in addition to a deal on “Emirates Insurance” worth 37.8 million dirhams for 5.2 million shares at a price of 7.2 dirhams per share.
The Abu Dhabi market also witnessed the execution of 3 large deals on shares of Abu Dhabi National Hotels Company, whose value exceeded 135.7 million dirhams, after they were executed on 210.4 million shares at an execution price of 0.645 dirhams per share.
According to monitoring, the Dubai Financial Market witnessed the implementation of 4 large deals during the month of Ramadan, with a total value of approximately 933.9 million dirhams on 62.2 million shares, topped by the “Mashreq Bank” deal, which amounted to 782.1 million dirhams on 3.9 million shares.
The Dubai Financial Market also witnessed the implementation of a major deal on “Emirates NBD” shares worth 100.5 million dirhams for 5.7 million shares, in addition to two deals on GFH Financial Group shares, the first at a value of 28.7 million dirhams for 30 million shares, and the second at a value of 22.5 million shares. AED 22.6 million shares.
Large deals are a mechanism provided by local markets to investors and brokerage companies, allowing deals of this type to be completed on shares of a listed company without being restricted by the range of price limits applicable in the market.
The executed large direct trades do not affect the closing price of the company’s stock in question or the general index, nor do they affect the highest and lowest prices executed during the session or during the last 52 weeks.
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