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FinancialNews


  • 01-03-23

    Saudi Arabia’s Dar Global stake surge in London debut

    (MENAFN) Shares in property developer Dar Global increased in its market debut on Tuesday, creating this London’s initial major rise since Ithaca Energy’s initial public proposing late last year.

    The share started at USD3.55, rising from the USD3.33 paid by financers ahead of the climb. By the end of exchange, 27,500 stocks had changed hands, in line with Refinitiv figures. The stacks were showed at a closing mid-price of USD3.6, indictaing an 8 percent jump on the pre-float price.

    The exchange capacity was much lower than those on Ithaca’s market first session in November. They were also well under those after Wise’s direct registering two years ago, which witnessed more than 60 million stakes change hands on the day it went public.

    On the other hand, the two Ithaca and Wise had larger market capitalizations upon entrance to the London Stock Exchange than Dar Global, which has a market worth of nearly USD600 million, according to Tuesday’s stock price.

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