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Nasdaq Dubai to launch Adnoc, Emaar Malls futures
The addition of the two companies is the latest expansion of Nasdaq Dubai's derivatives market.
dubai - The addition of the two companies is the latest expansion of Nasdaq Dubai's derivatives market
Adnoc Distribution is scheduled to list on the Abu Dhabi Securities Exchange (ADX) on Wednesday following an initial public offering (IPO) that raised Dh3.1 billion. Emaar Malls listed on Dubai Financial Market (DFM) in October 2014 after raising Dh5.8 billion in its IPO.
The addition of the two companies is the latest expansion of Nasdaq Dubai's derivatives market, which from Wednesday will comprise single stock futures on 16 UAE-listed companies after opening with seven in September 2016. Shuaa Capital will provide market-making services on Adnoc Distribution and Emaar Malls to facilitate liquidity, as it does on all Nasdaq Dubai single stock futures.
"With businesses in different industry sectors and listings on different exchanges, Adnoc Distribution and Emaar Malls further diversify the opportunities for investors to hedge or take a position on our equity futures market," said Hamed Ali, CEO, Nasdaq Dubai.
More than 2.9 million futures contracts have traded on Nasdaq Dubai's derivatives market since it opened.
- waheedabbas@khaleejtimes.com
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