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Bahrain’s Ithmaar Holding leaps 15% on 1st trade on DFM

Bahrain’s Ithmaar Holding leaps 15% on 1st trade on DFM
Bahrain-based Islamic retail lender is a dual-listed company on Bahrain Bourse and Boursa Kuwait.
Ithmaar Holding
ITHMR
-8.33% 0.03 -0.00

By: Mahmoud Gamal

Dubai – Mubasher: Ithmaar Holding’s stock jumped 14% early Monday, the first trading day on the Dubai Financial Market (DFM), to AED 0.760.

Bahrain-based Islamic retail lender is a dual-listed company on Bahrain Bourse and Boursa Kuwait, and has recently listed on the DFM.

By 10:50 am UAE time, the DFMGI slightly fell to 3,461.26 points at a turnover of AED 110.89 million, pressured by Dubai Investments which slipped 0.40% to AED 2.47 and Dubai Islamic Bank which inched down 0.15% to AED 6.48.

This represents regional firms’ tendency to be dual-listed on the DFM amid the notable improvement of the stock market as it provides advanced investment instruments akin to the global markets, CEO of Mindcraft Consulting Fady El Ghattis told Mubasher.

Listing the Bahraini Ithmaar Holding on the DFM will increase the number of its joint-stock companies to 18 foreign firms.

The DFM is likely to see more listings of dual-listed firms, which is a step towards diversifying the available options for investors, El Ghattis projected.

 

Translated by: Mai Ezz El-Din