Newly Issued Stock

Newly Issued Stock

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  • Emaar Properties, Dubai’s largest listed developer, has increased its share capital by 8% to $2.4B and issued 659M new shares. Emaar filed the listing on Friday to the Dubai Financial Market, where its shares are currently traded.
  • The company is determined to expand its portfolio, and is aggressively pursuing growth plans. In 2022, it increased the foreign ownership limit of its shares to 100% in order to attract international investors, leading them to a recorded 46annual increase in its third-quarter profit due to greater demand of property in Dubai.

Why it matters

According to its Managing Director, Emaar seeks to escalate its sales and market share as UAE hopes to recover from the economic ravages of Covid-19.


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