Dubai Financial Market to list AMLAK tomorrow

AMLAK Finance PJSC has complied with all the stipulations of the relevant authorities and governing bodies for the listing and smoothly completed all the formalities with regards to its Initial Public Offering (IPO). It has also returned all the excess funds that were deposited by investors in an overwhelming response to its IPO in January 2004.

Confirming the listing announcement, Mohammed Ali Al Hashimi, CEO, AMLAK Finance PJSC, said: "We are happy that investors will be allowed to trade in AMLAK shares on the Dubai Financial Market. The speed with which we have concluded the entire process from the IPO announcement to the listing is a reflection of the drive that His Highness General Sheikh Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister has instilled in us. We would like to extend our thanks to the UAE Ministry of Economy and Commerce, the Emirates Stocks and Commodities Authority and the Dubai Financial Market for all the support they have extended to AMLAK. We have demonstrated our commitment to transparency and disclosure during the entire process and will continue to do so going forward."

Announcing the listing, Essa A Kazim, Director General of the Dubai Financial Market said: "We welcome AMLAK to the Dubai Financial Market and we hope that other institutions will follow their lead. Investors will be allowed to trade in AMLAK shares beginning tomorrow through any of the registered brokers in the DFM." Kazim also noted that AMLAK is the first public joint stock finance company at the DFM to offer Shari'a compliant products.