UAE News Today : Business

DFM records major transactions involving 175.3 million shares

The Dubai Financial Market (DFM) carried out three major deals directly involving shares of ‘Takaful Emarat’, ‘SHUAA Capital’ and ‘Salama – Islamic Arab Insurance’, totaling 175.3 million shares worth combined AED 87.2 million.

According to DFM data, the first deal involved 44.2 million shares of ‘Takaful Emarat’, valued at AED 18.5 million, traded at a strike price of AED 0.419 per share.

The second transaction comprised 6.3 million shares of ‘SHUAA Capital’, valued at AED 1.26 million, carried out at a rate of AED 0.2 per share.

At the same time, the third deal involved 124.8 million shares of ‘Salama – Islamic Arab Insurance’, valued at AED 67.4 million, traded at a price of AED 0.54 per share.

These substantial transactions, commonly known as block deals, allow local market investors and brokerage firms to make such transactions in shares of publicly traded companies without being restricted by typical market price limits.

News source: Emirates News Agency

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