Amlak shares suspension, trading start date

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Amlak shares suspension, trading start date

Postby arwo14 » Sun 06 Apr 2014 19:30

Does anyone have any idea on what the current status for the suspension is and whether or not it'll resume normal trading.

Thanks
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Amlak's bourse suspension to be lifted

Postby Zorga » Sun 06 Apr 2014 20:46

Hope this helps!

[source="Reuters 24 March 2014 5:53am EDT"]Dubai lender Amlak's bourse suspension to be lifted

The shares of indebted mortgage lender Amlak will resume trading on the Dubai bourse in the second half of this year, the United Arab Emirates' economy minister said on Monday.

Trading in shares of Amlak, which is in the process of restructuring debt that sources put at nearly $2 billion, was suspended in November 2008 as credit markets dried up and Dubai real estate prices began a 50 percent fall from their peak.

"Our target is to list the company in the second half of this year," economy minister Sultan bin Saeed al-Mansouri told reporters on the sidelines of an event in Abu Dhabi.

Plans to merge with rival Tamweel, shares of which were also suspended in 2008, failed to materialise and Tamweel was delisted last year after its parent Dubai Islamic Bank acquired all of its mortgage affiliate.

Amlak, in which Emaar Properties has a 45 percent stake, has been in talks with a six-member creditor committee to address 7 billion dirhams ($1.9 billion) of debt, sources have told Reuters.

"We are progressing well on that one (restructuring). We have negotiated with creditors, they had their questions about rates, securities and period of repayment," al-Mansouri said.

"We have a mutual agreement on that and the supreme committee has to meet to finalise."

Dubai's market has rebounded strongly over the past two years and the emirate this month successfully refinanced a $20 billion loan given by Abu Dhabi and the UAE central bank.[/source]

http://www.reuters.com/article/2014/03/24/amlak-finance-stocks-idINL5N0ML1MA20140324
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Re: Amlak shares suspension duration

Postby tauriantrader » Sat 05 Jul 2014 19:48

hi,
does any one have any news as to when Amlak will start trading again, as the last news was it will start trading in second half of this year, but there are no confirmed dates yet.

thanks
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Re: Amlak shares suspension, trading start date

Postby tauriantrader » Fri 29 Aug 2014 23:35

Friends,
does anyone have latest update on Almlak trading date.

many thanks in advance..
tauriantrader
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Re: Amlak shares suspension, trading start date

Postby nathack » Sun 31 May 2015 17:15

Hi all,

I'm a reporter at The National -- wondering if anyone has invested in Amlak and wants to give me their thoughts ahead of the resumption of share trading.

Thanks!
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Re: Amlak shares suspension, trading start date

Postby sandy gallop » Mon 01 Jun 2015 10:05

Received a text yesterday from ENBDs broker stating that Amlak is back on the trading board June 2nd. :) Holding over at 1Dh over the interim seems like a good day for a litmus test of an old sentimental ...
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Re: Amlak shares suspension, trading start date

Postby nathack » Mon 01 Jun 2015 12:39

sandy gallop wrote:Holding over at 1Dh over the interim seems like a good day for a litmus test of an old sentimental ...


Hi Sandy. I'm a reporter at the National –- if you're a shareholder in Amlak, would you be willing to chat to me quickly about your thoughts on the unfreezing/Amlak's plans/etc?

My email is [removed]

Thanks,
[removed]

[edit by moderator: personal contact information removed, please use PM system, see forum guidelines]
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Re: Amlak shares suspension, trading start date

Postby sharewadi » Mon 01 Jun 2015 19:19

nathack wrote:I'm a reporter at the National –-

Presumably you are but please suggest to members that they use the PM system to make direct contact with you. If you want to exchange email addresses or other information privately, the PM system can be used for that also. Personal information and contact details removed from your post just in case you aren't.

Actually in retrospect I could have left your name, I guess it's public information anyway. But I've forgotten what it was. I suggest adding it to your signature instead. Then it's easy to change if you change newspapers. It also means any readers or members know if they are replying to any of your posts that you are a journalist. Something like this:

Nat Hack: Business reporter at The National.
Please read forum posting guidelines, especially if you have been deactivated.
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