AWTAD lists on DFM second market
dubai — Majid Abdullah Alsari, chairman of AWTAD, rang the market bell to celebrate the listing of the company’s shares on the second market of the Dubai Financial Market (DFM) on Thursday, in the presence of Hassan Al Serkal, chief operating officer (COO) and head of operations division of DFM, as well as senior representatives from both sides.
Dubai-based AWTAD is a property investment company with a capital of Dh150 million distributed between 1.5 million shares with a nominal value of Dh100 per share.
Essa Kazim, chairman of DFM, said: “The second market represents significant value for businesses and investors alike as it enables investors to trade on private companies’ shares within a regulated and advanced environment and through the electronic trading system. The listing also enables private companies that play an integral role in the economic activity to avail of various benefits of being a listed company.”
This will provide us with a tremendous opportunity to grow our investments and expand business activities Majid Abdullah Alsari, Chairman of AWTAD
“The second market has a huge potential to expand, considering there are around 150 private joint stock companies in the country and the DFM encourages them to be part of its platform. The listing on the second market provides these companies with numerous benefits, including links with local and international investors, streamlined access to funds necessary for expansion as well as enhancing its competitiveness through the implementation of best practices of transparency, corporate governance and investor relations, preparing the company for a new era of growth,” Kazim added.
Alsari said: “We are proud to have AWTAD listed on the second market. We give high regard to the Securities and Commodities Authority and the DFM and are confident that this will provide us with a tremendous opportunity to grow our investments, expand business activities, increase our investor base and contribute to enhancing the concept of transparency and disclosure by applying corporate governance rules to the benefit of all parties.” — Wam