Dubai's DFM achieves 97% in disclosure compliance of Q3 financial statements

Arabtec among companies who failed to meet 45-day disclosure deadline

  
A woman walks through the Dubai Financial Market after Joe Biden won the U.S. presidency, in Dubai, United Arab Emirates November 8, 2020. Image used for illustrative purpose

A woman walks through the Dubai Financial Market after Joe Biden won the U.S. presidency, in Dubai, United Arab Emirates November 8, 2020. Image used for illustrative purpose

REUTERS/Christopher Pike

The Dubai Financial Market (DFM) has reported a minor uptick in the number of listed firms disclosing their financial results, compared to the first half of the year.

Out of the 63 public joint stock and dually-listed companies on DFM, 61 released their Q3 2020 results within the prescribed 45-day deadline, posting a 97 percent compliance rate.

The latest disclosure rate is higher than the 96 percent recorded for the first half of 2020.

UAE builder Arabtec, as well as Marka, are among the companies who failed to disclose their financial results, the DFM said.

The construction firm’s shareholders had earlier voted to dissolve the company.

(Writing by Cleofe Maceda; editing by Seban Scaria)

Cleofe.maceda@refinitiv.com 

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2020

More From Equities