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Dubai SME holds joint seminar with DFM and NASDAQ Dubai on capital raising options for SME100 companies

Dubai SME, the agency of the Department of Economic Development mandated to develop the small and medium enterprise (SME) sector, together with the Dubai Financial Market (DFM) and NASDAQ Dubai, organized a ‘Financing for Growth’ seminar for Dubai SME100 companies on the various options for raising capital, including taking the initial public offering (IPO) route.

Abdul Baset Al Janahi, Chief Executive Officer of Dubai SME, remarked: “I am delighted to partner the esteemed DFM and NASDAQ Dubai to push the frontiers further on access to SME financing through this workshop. The listing preparation processes of DFM and NASDAQ Dubai are SME-friendly, thus promising to make it smoother and less onerous for SMEs to list.”

NASDAQ Dubai welcomes $650 million JAFZ Sukuk to its market

NASDAQ Dubai welcomed the listing of a $650 million Sukuk by Jebel Ali Free Zone (JAFZ) on its market.

Jeff Singer, Chief Executive of NASDAQ Dubai, said: “As the international exchange serving the UAE and the region, NASDAQ Dubai is delighted to be chosen by JAFZ for its Sukuk listing. NASDAQ Dubai offers Sukuk issuers and their investors a well regulated, effective and internationally visible platform. We look forward to hosting further listings in this expanding asset class from public and private issuers, from the UAE and other countries.”

Global Sukuk issuance reached $43.5 billion in the first quarter of 2012, up 55% from the same period of 2011, according to NASDAQ Dubai figures.

Salma Hareb, CEO of JAFZ, said: “Jafza has once again demonstrated a strong and sustainable long-term business model. This refinancing success confirms the strength of Jafza as global players”.

DFM launches Summer Training Program for 18 UAE Students

Dubai Financial Market (DFM) launched its Summer Training Program 2012, which offers 18 UAE school and university students practical training throughout the month of July for 6 hours per day from 8:00 am to 2:00 pm.

The program aims to sharpen participants’ skills and enable them to plan for their future career. Initiated in 2004, the DFM Summer Training Program’s success in achieving its desired objectives has encouraged DFM to organize this program annually.

Dubai Financial Market honors the winners of its Annual Stock Game

Dubai Financial Market (DFM) announced the conclusion of its 10th Annual Stock Game, the most popular educational initiative amongst school and university students in the UAE, aimed at fostering the new generation’s investment culture. The Stock Game saw fierce competition amongst students representing educational institutions in the UAE in addition to the University of Prince Mohammed bin Fahd and Al Faisal University from Saudi Arabia.

DFM achieves 100% compliance in quarterly results disclosure of UAE companies

Dubai Financial Market (DFM) announced its UAE listed companies recorded 100% compliance in disclosing their Q1 – 2012 financial results within the deadline of 45 days from the end of the period.

A total of 41 out of the 44 UAE public joint stock companies listed on DFM successfully disclosed their quarterly results by the end of March 2012, with the exception of Amlak Finance, ALFIRDOUS and United Kaipara Dairies due to procedural reasons.


DFM performance during June 2012

The Dubai Financial Market General Index decreased by 1.33% to 1451.87 points at the end of June compared to1471.49 points at the end of May.

At the sectoral level, indexes of five out of the nine sectors represented on DFM ended the month in the red, with the Real Estate and Construction sector decreasing the most by 3.27%, followed by the Services and Transportation sectors by 1.67%, and 0.91% respectively. The Consumer Staples sector index did not change during this month.

The market capitalization declined at the end of June by 3.19% amounting to AED 174.03 billion compared to AED 179.8 billion at the end of the previous month. The value of stocks traded during this month reached AED 1.9 billion, compared to AED 3.2 billion recorded during May, a decrease of 42.87%. The number of stocks traded decreased by 34.36% to reach 1.6 billion stocks during this month compared to 2.5 billion stocks traded during May. The number of transactions executed during June fell by 41.28% to reach 28.6 thousand compared to 48.7 thousand deals carried out during the previous month.

As for the sectors’ contribution to trading volumes, the Real Estate and Construction sector ranked first in terms of the traded value, to reach AED 765.5 million, which is 41.34% of the total traded value in the market. The Banking sector ranked second at AED 388.5 million (20.98%), followed by the Services sector with AED 205.1 million (11.08%), the Insurance sector with AED 148.7 million (8.03%), the Transportation sector with AED 131 million (7.08%), the Telecommunications sector with AED 121.4 million (6.56%), and the Financial and Investment Services sector with AED 90.5 million (4.88%).

The value of stocks bought by institutional investors during this month reached AED 505.1 million comprising 27.27% of the total traded value. The value of stocks sold by institutional investors during the same period reached AED 462.4 million which constitutes 24.97% of the total value traded. Net institutional investment in-flow into DFM amounted to AED 42.7 million.


NASDAQ Dubai performance during June 2012

The value of equities traded on NASDAQ Dubai in June 2012 reached 23.4 million dollars. This was a decrease of 39% from 38.3 million dollars in May 2012, and of 68% from 74.2 million dollars in June 2011.

The value of equities traded in the second quarter of 2012 reached 98.5 million dollars, a decline of 53% from 209.7 million dollars in the same period of 2011.

The FTSE NASDAQ Dubai UAE 20 index ended June 2012 at 1,546, down 1% from 1,560 at the end of May and up 13% from the end of December 2011.


Indices

The Dubai Financial Market General Index decreased by 1.33% to 1451.87 points at the end of June compared to 1471.49 points at the end of May.

The FTSE NASDAQ Dubai UAE 20 index ended June 2012 at 1,546, down 1% from 1,560 at the end of May and up 13% from the end of December 2011.

The index tracks 20 stocks listed on DFM, the Abu Dhabi Securities Exchange and NASDAQ Dubai. The stocks are chosen for high liquidity and openness to foreign investment. Read more about the constituents of the index here

Brokers’ Market share - June 2012

Members Market Share by Value (%)
EFG-Hermes Brokerage 10.0
Al Ramz Securities 7.81
Abu Dhabi Islamic Securities 6.27
Direct Broker for Financial Services 5.88
Abu Dhabi Financial Services 5.81
Emirates NBD Securities 4.63
Emirates Islamic Financial Brokerage 4.61
Arqaam Securities 4.55
Mena Corp Financial Services 3.92
Mashreq Securities 3.37
Members Market Share by Value (%)
Deutsche Bank 46.15
EFG-Hermes Brokerage UAE 23.26
Arqaam Securities 21.56
SHUAA Securities 3.83
Direct Brokers for Financial Services 3.15
Emirates NBD Securities 0.54
Al Dhabi Brokerage 0.51
Al Ramz Securities 0.43
Mashreq Securities 0.40
Index Securities 0.18