Ektettab Ekttitab DFM listing

[sharewadi]

Ektettab Holding Company (EKTTITAB) is a Kuwait Stock Exchange (KSE) listed company which plans to have a secondary listing on the Dubai Financial Market (DFM).

Ektettab Chairman: Ali Darwish Al Shimali
Ektettab Managing Director: Ali Darwish Al Shimali
Ektettab General Manager: Osama Nassr
Stocker ticker I've assumed to be EKTETTAB [edit] wrong, is EKTTITAB [/edit]
Date of DFM listing: unknown

Ekttetab are having an investor awareness meeting at the DFM on 28 May 2008. More information should be available after that.

I thought I'd seen the name before and was searching for previous news about Ektettab listing on the DFM, but I think I got the name confused with the ektetab.ae website which was used for the Dana Gas IPO in 2005 (website no longer appears to be in operation).

I presume both ektetab and ektettab are Arabic words. Anyone know what they mean, and if there's a difference?

[edit] Included Ekttitab in title, and updated ticker [/edit]

_________________
UAE IPO list | posting guidelines

[sam111sam]

Same Word means Subscribtion (for an IPO)

[sharewadi]

Thanks sam x 2 .

DFM 29 May 2008:

(EKTTITAB) Listing shares of Ekttitab Holding Company K.S.C on DFM and trading commences today, 29 May 2008.

And away we go So much for my original spelling of the word. It's now Ekttitab apparently.

I didn't see any prior notification on the DFM website, and there was nothing on the ESCA website when I checked for upcoming listings yesterday. Bah . Maybe the listing date was only decided at the investor awareness meeting yesterday.

Ekttitab are having a good time so far today though, in the first 30 minutes of trading, shares are up 14% to 3.70 (presumably ESCA did a conversion from the last KSE price to get the AED 3.26 previous closing price). Turnover at about AED 2 m is not much but higher than you see for most other KSE secondary listings on the DFM.
_________________
UAE IPO list | posting guidelines

[sharewadi]

Press Release 29 May 2008:

Ekttitab Holding Company debuts on Dubai Financial Market - DFM welcomes 58th public joint stock company listing - Trading symbol ‘EKTTITAB’ allotted - Classified within Investment and Financial Services sector Dubai: Dubai Financial Market (DFM) announced today the listing of Ekttitab Holding Company KSCC (EKTTITAB), incorporated in Kuwait. Company shares begin trading on Thursday May 29, 2008, under the trading symbol “EKTTITAB,” which will appear on DFM screens, trading systems and publications. Dr. Ali Darwish Al Shimali, Charman and Managing Director, Ekttitab Holding Company; Osama Nassr, General Manager, Ekttitab Holding Company; and Rashid Al Shamsi Vice Chairman, Dubai Financial Market, attended the listing ceremony along with senior members of DFM and Ekttitab Holding Company. The listing of ordinary shares of Ekttitab Holding Company was finalised and approved by the DFM in collaboration with the Emirates Securities and Commodities Authority (ESCA). Dual listing the company’s shares on the Kuwait Stock Exchange and DFM will give UAE investors greater access to Ekttitab Holding Company’s shares and enhance their ability to trade them. The company’s authorised capital and paid-up capital is KWD 47 million. The company has issued 47 million shares, with each share valued at a par value of Kuwait 100 fils. “Our company has been committed since inception to investing within a Sharia-compliant framework,” said Dr. Aku Darwish Al Shimali. “Cross listing on the DFM as well as the Kuwait Stock Exchange will give investors in the UAE the chance to invest in a firm that is intent on increasing its value, and reducing its exposure to risk. DFM is a financial exchange that is working towards becoming the world’s first Sharia-compliant financial exchange, and since our company deals solely with firms that are Sharia-compliant, it makes sense for us to list on an exchange that is devoted to Islamic financial principles.” Al Shamsi said: “The listing of Ekttitab Holding Company on DFM represents a strengthening of ties between the financial exchanges of Dubai and Kuwait, and the economies of the UAE and Kuwait. DFM continues to be the foremost catalyst to reaching out to the enormous investor community of Dubai and the UAE. DFM’s commitment to becoming the world’s first Sharia-compliant financial exchange will mean greater appeal to firms such as Ekttitab Holding Company, a company that conforms to the principals of Islamic law. We look forward to further listings with companies of this type.” The company and DFM jointly held a pre-listing investor awareness day, where representatives from Ekttitab Holding Company answered audience’s queries. The event was open to all, and not limited to any specific shareholder type. Investors, brokers and shareholders of Ekttitab Holding Company attended the event that took place at the Dubai Financial Market Press Hall, Mezzanine floor.

_________________
UAE IPO list | posting guidelines