Dubai-Mubasher: Dubai Financial Market (DFM) launched the “Direct Deals Service” mechanism, according to a statement.
The new service will enable investors and brokerage firms to make big deals on listed companies’ shares while exempted from the price cap in effect (15% up and 10% down).
The price must not exceed the previous closing price by 25% up or down.
The deals will not affect the stock’s closing price, the DFM general index, and high and low prices during the session or the 52 weeks.
The direct bulky deals will be implemented through the trading engine yet during a special session between 8:00 and 8:30 am.
“Number of shares has to be 3% and above of the capital or with a value of AED 200 million at least,” the bourse said.
