Amanat Holdings, which commences its first trading session today on the Dubai Financial Market (DFM), has announced its losses for the period since its incorporation till November 16, 2014. The healthcare and education firm has reported losses amounting to AED 11.5 million ($3.13 million).

Pre-incorporation expenses amounted to AED 12.5 million, whereas interest revenues have amounted to AED 1.04 million, Amanat’s statement revealed, adding that the Company was formed by a group of 37 local and international investors at a capital reaching AED 2.5 billion. The Company is to operate within the healthcare and education sectors.

Amanat Holding has commenced its first trading session on the DFM on Sunday, November 30, 2014, recording the third listing on the DFM in 2014 after Marka and Emaar Malls.

The stock retreated by 20% after 45.9 million shares were traded during the first hour of Sunday’s session, falling to AED 0.800 (as at 11:40 am Dubai Time) amid a strong wave of losses that has hit all DFM-listed stocks.