RAK Properties' shares commence trading tomorrow on Abu Dhabi Securities Market

Listing of RAK Properties shares at the ADSM required the company to complete all regulations set by the authorities and the concerned governmental bodies. RAK Properties was successful in completing all the formal procedures and in reimbursing oversubscribed amount in record time for all the shares that were traded during the IPO in April 2005.

Mohammed Al Qadi, Managing Director, RAK Properties, said

"We are pleased to offer our investors the opportunity to trade RAK Properties shares on the ADSM. Our commitment will continue towards maintaining transparency in all our methods for the benefit of our shareholders and investors".

"The IPO was an overwhelming success in attracting investors from the UAE and neighbouring GCC countries. This reflects the great support and the wise vision of His Highness Sheikh Saud Bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah. We take this opportunity to thank him for his constant support towards RAK Properties", added Al Qadi.

Starting today, investors can trade the shares of RAK Properties through the broker companies registered with ADSM. The esteemed investors should undertake the necessary arrangements to obtain an investment license in the Abu Dhabi Securities Market and then deposit the ownership certificates of the shares and the allocation notification at the offices of the Abu Dhabi Securities Market prior to any dealings.

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.

"RAK Properties will adopt a transparency policy for all its future transactions and operations in order to protect the interest of its investors. The occurrence of the listing is another milestone in the company's achievements", concluded Al Qadi.