Dubai-Mubasher: Trading on the shares of Dubai Development Company (DDC) will be resumed as of Thursday, 19 November, according to Dubai Financial Market (DFM).
This step follows the completion of an acquisition process that enabled a group of investors represented by Al Ramz Capital, to acquire 8,242,025 shares or about 82.4% of DDC’s total capital amounting to AED 10 million divided into 10 million shares.
Implemented through DFM’s clearing department, the acquisition transaction completed on Monday, 2 November at a net price of AED 4.55 per share, excluding any commissions, with an increase of 237% from the book value per share.
The acquisition price will be applied as the opening price of DDC shares and the fluctuation band of 15% up and 10% down will be applied on the share as per DFM rules in effect.
