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RAK Properties, in collaboration with NBAD, recently updated all its registration books and issued the ownership deeds to the new shareholders. NBAD, the registrar bank finalised the transferring of the shares that were traded unofficially after the completion of the IPO and issued certificates for these shares.
Rami Khuraisat, ADSM, said"
We are looking forward to list RAK Properties at our stock market. This listing will provide new investment opportunities to potential investors in the UAE and will expand the investment portfolio of the ADSM. ADSM has taken steps to secure the rights and investments of shareholders by restricting the trading of the RAK Properties' shares to the stock market. Any trading outside the official market will not be accepted".
RAK Properties witnessed phenomenal trading of its shares during the last few weeks. The extensive trading illustrates that the investors are confident of RAK Properties financial stability and have faith in the prospects of the emirate of Ras Al Khaimah.
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Posted by Anne-Birte Stensgaard, Senior News Editor
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