The transactions include 45 million Drake and Scull International (DSI) shares as well as six million Gulf Navigation shares.
The Dubai Financial Market (DFM) announced that it has settled its inaugural repurchase (repo) transactions through its new repo settlement.
The new service enable investors to unlock value of DFM-listed securities.
A repo transaction, is a financial instrument in which a repo buyer provides capital a repo seller collateralised by the seller’s securities.
Maryam Fikri, COO and Head of Clearing, Settlement and Depository Division of DFM, said, “We hope financial institutions will leverage on this new DFM infrastructure to create new products.”