Nov 16 2011 |
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DFM achieves 98% compliance in local company disclosures of Q3-2011 results
Dubai, November 16th 2011: Dubai Financial Market ( DFM ) announced today that its listed local public joint stock companies have recorded a 98% compliance regarding the disclosure of Q3-2011 results within the deadline of 45 days from the end of the period.The total number of UAE public joint stock companies listed at DFM which disclosed their third quarter results stood at 43 companies, with the exception of SHUAA Capital which asked to postpone the disclosure and was suspended. DFM yesterday submitted a detailed report to the UAE Securities and Commodities Authority (SCA) including the disclosure dates and its observations on the disclosures according to SCA requirements.
DFM suspended trading of 5 foreign listed companies, which didn't disclose its quarterly results within the deadline including, International Financial Advisors , National Industries Group, Global Investment House, International Financial Advisors and ALMADINA.
About
Dubai Financial Market
:
Dubai Financial Market
(
DFM
) was established as a public institution with its own independent corporate body.
DFM
operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The
DFM
commenced operations on March 26, 2000. Following its initial public offering in November 2006, when
DFM
offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 billion,
DFM
became a public joint stock company. Following the IPO, the Government of Dubai retained the remaining 80 per cent of
DFM
Company through
Borse Dubai
Limited. www.dfm.ae
For further information, please contact:
Atef Fathy
Vice President - Public Relations
Dubai Financial Market
Tel: +971 (4) 3055334
Email: afathy@dfm.ae
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