100.31 thousand new accounts for investors in the Dubai Financial Market within 11 months… a growth of 97.07%

Brokerage companies in the Dubai Financial Market added about 100.31 thousand new accounts for investors during the first 11 months of the current year 2024, a growth of 97.07%, compared to 50.9 thousand new accounts during the same period in 2023, amid a large investor demand for new listings, which… Contributes to enhancing the attractiveness of the market and attracting new segments of investors

Dubai Financial Market data revealed that the new accounts were distributed by 4,465 accounts in January, 5,557 accounts in February, 16,574 accounts in March, 9,957 accounts in April, 8,026 accounts in May, 6,223 accounts in June, 5,543 accounts in July, 7,554 accounts in August, and 7,050 accounts in September. last year, and 13,874 accounts last October

New accounts witnessed a jump of 41.8%, reaching 15,487 new accounts last November, compared to about 9,014 new accounts in November 2023, an increase equivalent to 6,473 accounts. This comes in conjunction with the “Delivery Hero” delivery services company collecting about 7.5 billion dirhams, equivalent to two billion dollars, from The initial public offering of a 20% stake in the shares of its unit, Talabat, on the Dubai Financial Market after The final share price was set at the upper end of the range, making it the largest IPO in the UAE this year

Thus, the price range for the offering shares was set between 1.50 dirhams and 1.60 dirhams per share, which means that the market value of the company at the time of listing will range between about 34.9 billion dirhams (about 9.5 billion dollars) and about 37.3 billion dirhams (about 10.1 billion dollars). The final offering price is expected to be announced on November 29, 2024

Most possessive

BHM Capital Financial Services Company acquired the largest share of new investor accounts during the first 11 months of this year, with 36.96 thousand accounts, then Emirates NBD Securities with 22.99 thousand accounts, then Al Ramz Capital with 15.39 accounts. , followed by “International Securities” with 6,962 accounts, and “Abu Dhabi Islamic Securities” 6,615 accounts, “Mashreq” Securities 4,508 accounts, “First Abu Dhabi Securities” 1,221 accounts, and EFG Hermes – UAE 1,201 accounts.

Deals

In a related context, the 29 brokerage companies in the Dubai Financial Market executed more than 4.47 million transactions in 11 months on 91.11 billion shares, with a value exceeding 184.74 billion dirhams.

The EFG Hermes Emirates accounted for the largest share of the total value of brokerage firms’ trades during the first 11 months of this year, at a rate of 23.3%, or the equivalent of 43.06 billion dirhams, then “BHM Capital” with a share of 12.78%, equivalent to 23.6 billion dirhams, and thirdly, “Emirates NBD Securities” at approximately 17.87 billion dirhams or Equivalent to 9.67

“Arqaam Securities” came in fourth place with about 17.53 billion dirhams, or 9.49%, and “Abu Dhabi Islamic Securities” came in fourth place with about 11.43 billion dirhams, or 6.19%.