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30 November 2023

Dubai’s Damac shares surge on home market listing

Dubai's Damac Properties reported a 38 per cent fall in first-quarter net profit on Wednesday. (FILE)

By Reuters

Shares in Dubai-based real estate developer Damac surged as they listed on the emirate’s bourse on Monday, after the company initially floated global depositary receipts in London in late 2013.

Damac traded at Dh3.19, up 14 per cent from its London close last Friday. It dominated trading volume in Dubai; the market’s main stock index was up just 0.9 per cent.