In the UAE stock market, Dubai had a mixed start to the week, with the index falling by 0.21% to 3973.52 points. However, several companies saw significant growth in Dubai, including National International with a rise of 9.55%, Drake & Scull with an increase of 6.44%, and Emaar Properties with a gain of 2.29%. On the other hand, some companies experienced declines in Dubai, such as Dubai Commercial with a fall of 5.78% and Emirates Reem with a decrease of 2.63%.
In Abu Dhabi, the market index rose by 0.32% to 8,985.81 points, with trades amounting to 979 million dirhams. The largest increase in Abu Dhabi was seen in PureHealth shares after news that Ardent Health Services is preparing for an initial public offering (IPO) in the United States later this year. Ardent is expected to launch its IPO in July 2024 and aims to raise approximately $400 million with a valuation of around $5 billion. The registration for the IPO was submitted to the US Securities and Exchange Commission (SEC), led by JPMorgan. This offering is expected to significantly boost PureHealth’s stake, which is estimated at about $1 billion after the IPO.
Overall, while some UAE stocks experienced declines in both markets this week, others saw impressive gains due to various factors such as IPOs and company performance reports.
In Dubai’s stock market, several companies saw significant growth this week despite a slight decline in the index overall. National International had a remarkable rise of 9.55%, while Drake & Scull experienced an increase of 6.44%. Similarly, Emaar Properties grew by 2.29%, and Takaful Emirates and Emaar for development also saw growth of 2
