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19 February 2020
MARKETS

Nasdaq Dubai to lose its valuable stock as DP World opts to delist

DP World is the largest of eight equity listings on the exchange, including two Real Estate Investment Trusts

Nasdaq Dubai operates futures and fixed income trading platforms, offering investors access to Sukuk and conventional bonds/Shutterstock

by Bloomberg

Nasdaq Dubai is about to lose its most valuable stock after the emirate’s port operator announced plans to take the $11 billion company private.

The departure of DP World is set to increase the gap in trading turnover between Nasdaq Dubai and the two larger UAE exchanges. The value of equities changing hands in January 2020 on the platform was close to $117 million, compared with about $1.1 billion at the Dubai Financial Market and $757 million at the Abu Dhabi Securities Exchange.

The bourse also operates futures and fixed income trading platforms, offering investors access to Sukuk and conventional bonds.

“Nasdaq Dubai should probably start focusing and educating investors on products other than equities,” said Marie Salem, head of institutions at Daman Securities in Dubai.

“Futures, for example, provide hedging facilities to investors and they’re still not common around here. The size of the local market doesn’t require having three exchanges for similar products in the same country,” added Salem.


RELATED STORIES: Nasdaq Dubai DP World Abu Dhabi Securities Exchange Dubai Financial Market


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