Real estate giant Emaar closed 0.5 per cent down at Dh11.75 On the Dubai Financial Market (DFM) as both UAE bourses reported light trading on Wednesday as the market traded a total volume of 104 million shares worth Dh614 million.
Meanwhile, Arabtec and and du also slipped 1 per cent and 0.7 per cent respectively, according to Khaleej Times.
In the banking sector Dubai Islamic Bank closed 1.14 per cent down at Dh8.66. On ADSM, banking sector reported across the board fall in share prices.
Regarding the DFM's Dh1.6 billion initial public offering (IPO), Essa Kazim, Director General of DFM stated, "“DFM's management has provided all necessary information and details to investors during the IPO period. DFM has been responding to all inquiries and provided solutions and consultancy to investors participating in its IPO."
The IPO will close on Thursday at the end of normal working hours, while the allocation of shares and excess funds are expected to be returned to investors on December 10.
