Since the listing, “Burken” shares rises 180.47%… and “Dubai Taxi” 43.24%

A monitoring of «Emirates Today», based on the Dubai Financial Market data, revealed the share of the Dubai Taxi Company, which was included on December 7, 2023, by 43.24% at the closure of Friday, September 12th, recording 2.65 dirhams, compared to a price of a launch of 1.85 dirhams, in the revenues of the offering of 1.2 billion dirhams, with the volume of requests for 150 billion dirhams and at 130 times covered.

The price of the share of the company “Barkan”, which was included on March 21, 2024, increased by 180.47%, recording 5.89 dirhams, compared to a price of 2.1 dirhams, while the offering revenues amounted to 1.6 billion dirhams, with a volume of requests for 259 billion dirhams, and at 165 times.

The monitoring showed that the revenues of government proposals in the Dubai Financial Market of six companies, namely: “Dua”, “Tikom”, “Salik”, “Embower”, “Dubai Taxi” and “Barkan”, amounted to about 33.2 billion dirhams, with a size of record requests amounting to 1.069 trillion dirhams.

Malian analysts emphasized that the government subscriptions, which have witnessed the Dubai Financial Market since 2022, contributed to the creation of a qualitative shift in the market structure and its investment attractiveness, pointing out that the strong performance of these companies after the listing, and its circulation all over the offering price, reflects great confidence in government entities, and economic policies supporting by the Dubai government.

They added to «Emirates Today» that the investors of the Dubai Financial Market are awaiting new government proposals to complete the march of rise in the performance of the market, noting that sectors such as logistics and air transport, (especially freight units, catering, and ground services), along with energy and fuel services, and urban infrastructure such as collections, positions, cooling, water and waste management, are among the most prominent sectors of the candidate For upcoming proposals, as well as the possibility of tourism, hospitality and real estate sectors.

They pointed out that these infections were not only raised from the market value of the Dubai Financial Market Index, which ended in 2024 at an increase of 27.1%, but also contributed to attracting new groups of investors, especially foreigners who constituted 85% of new investors during the same year, which enhances Dubai’s position as a global financial destination.

The “Alec Holding Company” announced yesterday its intention to include 20% of its source capital in the Dubai Financial Market through a preliminary public offering, with the Dubai Government Investment Corporation, “the seller”, the right to amend the volume of offering at any time before the end of the subscription period according to its absolute estimate.

The Dubai Government Investment Corporation, the main investment arm of the Dubai government, is currently the only shareholder in Alec, and plans to offer a billion shares of regular shares through the first public subscription, and the subscription period is expected to extend from 23 to 30 September 2025, including both days.