UAE bourses likely to witness four major listings in 2019 – Al Zaabi

Will have a huge impact on the liquidity of the UAE stock markets

  
Traders monitor stock information at Dubai Financial Market, in Dubai, United Arab Emirates, June 5, 2017.

Traders monitor stock information at Dubai Financial Market, in Dubai, United Arab Emirates, June 5, 2017.

REUTERS/Stringer

The Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX) are expected to witness the listing of four major companies’ shares at the beginning of 2019, the CEO of the UAE Securities and Commodities Authority (SCA) Obaid Al Zaabi told CNBC Arabia.

The commissioners of the SCA proposed modifying the percentage available for transforming private companies to public joint-stock firms to 100% instead of 30%, Al Zaabi added.

He clarified that this will have a huge impact on the liquidity of the UAE stock markets as well as on the companies that tend to transform to be joint-stock firms.

Al Zaabi projected that 2018 will witness a correction for the UAE stock exchanges in line with the liquidity that is currently reviving.

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