Over the last two weeks, the company's share register was open to enable purchasers of shares from the successful IPO subscribers to enter their transactions in the company's share register. The share register has now been closed for the purpose of reconciling these transactions.
Once the reconciliation process has been completed - and subject to the final approval of the ADSM and the Securities & Commodities Authority (SCA) - the company will be listed on the ADSM. Once listed, trading of the company's shares will only be permitted through the ADSM.
Ahmed Ali Al Sayegh, Chairman of ALDAR, said: "An enormous number of transactions have taken place in the company's shares since the shares were first issued to successful subscribers in December of last year. Each of these transactions has to be carefully and accurately entered into our share register. This process is now underway in earnest to meet our target listing on the ADSM at the commencement of trading on Tuesday, April 5, 2005."
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ALDAR Properties PJSC aims to officially list its shares on the Abu Dhabi Securities Market in the first week of April
- United Arab Emirates: Tuesday, March 22 - 2005 at 11:06
- PRESS RELEASE
ALDAR Properties PJSC announced today that it is aiming to have the company's shares listed on the Abu Dhabi Securities Market (ADSM) on Tuesday, April 5, 2005.
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ALDAR Properties PJSC is a premier real estate development, management and investment company headquartered in Abu Dhabi, UAE. The company was formed as a result of an initial Public Offering (IPO) of shares. The PJSC was created under Emiri Decree No 808 of 2004.ALDAR Properties PJSC was created to fast track real estate investment opportunities, and to offer an opportunity to participate in the prosperity of this increasingly important industry in the UAE.
The current property portfolio includes major developments and re-developments within Abu Dhabi Emirate, such as the Central Market in Abu Dhabi, the Al Raha Beach Development in Umm Al Nar, the Mubadala Development Company - ERWDA Headquarter Building in Abu Dhabi, Al Jimi Mall Expansion in Al Ain, Jebel Hafeet Resort in Jebel Hafeet, Al Ain, and the Al Mudheef Urban Regeneration Scheme in Al Mudheef.
ALDAR Properties PJSC is owned by leading Abu Dhabi institutions, founder shareholders and individual investors. It has a market capitalisation of over AED 1.5 billion.
For further information, please contact ALDAR's corporate communications advisers, Sareem International, on the numbers below:
Abu Dhabi Office
Tel.: +971 (2) 6771196
Fax: +971 (2) 6790060
Dubai Office
Tel.: +971 (4) 343 3688
Fax: +971 (4) 321 1988
Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, March 22 - 2005 at 11:06 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Sun Jul 03 2005.
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