Dubai Financial Market (DFM) has announced the listing of Ajman Bank PJSC. Trading of the company’s shares begins today, Sunday, June 22, 2008, under the trading symbol “AJMANBANK,” which will appear on DFM screens, trading systems and publications.
The listing ceremony was attended by Essa Kazim, Chairman of Dubai Financial Market; Ajman Bank board members Dr. Ali Rashid Al Nuaimi and Salem Rashid Khudor; the Chief Executive Officer of Ajman Bank, Yousif Saleh Khalaf; other senior members of DFM and Ajman Bank, as well as representatives of HSBC Middle East and the media. Representatives from both DFM and Ajman Bank rang the bell declaring the start of trading of the bank’s shares.
Ajman Bank’s listing comes as a result of the completion of all the necessary requirements affixed by the Emirates Securities and Commodities Authority (SCA) and DFM. Ajman Bank will be classified within DFM’s banking sector stocks. The bank’s authorized, issued and paid-up capital is AED 1 billion with each share valued at AED 1.
Essa Kazim said: “We welcome Ajman Bank to the list of banking firms that are traded on DFM. Our financial exchange continues to offer truly unique investment opportunities for the entire spectrum of investors. The listing of Ajman Bank reaffirms DFM’s leading position in the UAE and the region as the first choice for local and international investment and showcases our potential to grow even further.”
Sheikh Ahmed Bin Humaid Al Nuaimi said: “We are confident that Ajman Bank’s listing on DFM will garner substantial new sources of investment that will fuel the growth of the bank for years to come. This listing will be held to the highest standards, giving the regional and global investor community the chance to purchase a stake in one of the most dynamic banks in the Gulf. Ajman Bank’s primary goal is to strive to be the best financial institution possible, and we will achieve this by having the closest relationship with our investors, strong fundamentals and responsible fiscal discipline in everything we do.”
HSBC Middle East acted as a financial advisor and Lead Manager to the Bank.
