Dubai Financial Market PJSC: A Deep Dive into the Recent Rights Issue by Al Mal Capital REIT
In this article, we examine the recent rights issue by Al Mal Capital REIT, its impact on the Dubai Financial Market PJSC, and what it could mean for investors.
Summary
Al Mal Capital REIT has recently completed the crediting of new shares from its rights issue, resulting in an increase in issued shares and capital. However, despite this development, the future outlook for Dubai Financial Market PJSC remains pessimistic.
Al Mal Capital REIT, a significant player on the Dubai Financial Market PJSC, has recently completed the crediting of new shares from its rights issue. The number of issued shares has increased from 350,064,000 to 513,889,872, and the issued capital has also seen a corresponding increase from 350,064,000 AED to 513,889,872 AED.
On the surface, this might seem like a positive development, indicating growth and expansion. However, a deeper analysis paints a different picture. The yields for the past month and three months stand at 0.05% and 0.03% respectively, which are not particularly impressive figures. Furthermore, the market cap of 10,800,000,000 also does not inspire much confidence.
Dubai Financial Market PJSC, despite being a public joint stock company with a diverse portfolio of licensed activities, has not been performing optimally. The company's adherence to Islamic Shari'a in all its activities, operations and formalities, while commendable, has not translated into substantial financial gains or growth. The ultimate parent and controlling party, the Government of Dubai, which owns 80% of DFM through Borse Dubai Limited, has not been able to steer the company towards a more prosperous direction.
Given the current circumstances and the company's recent performance, the future outlook for Dubai Financial Market PJSC remains pessimistic. The completion of the rights issue by Al Mal Capital REIT, while noteworthy, is not enough to offset the challenges and issues that the company is facing. Investors need to exercise caution when dealing with this instrument.
Source
Summary
Al Mal Capital REIT has completed the crediting of new shares from its Rights Issue. The new shares have been added to the accounts of shareholders with Custodians, Trading Members, or the Registry Account with Dubai CSD as per the issuer's instructions. The number of issued shares has increased from 350,064,000 to 513,889,872, and the issued capital has also increased from 350,064,000 AED to 513,889,872 AED.
