سوق أبوظبي يوقف مستثمرين عن التداول لمدة عام
البيان الإماراتية الثلاثاء 3 مارس 2009 6:01 ص
قرر سوق أبوظبي للأوراق المالية إيقاف بعض المستثمرين عن التداول بصفتهم الشخصية أو أي صفة أخرى لمدة سنة وذلك اعتبارا من يوم أمس الأول.
وجاء القرار الذي وزع على بعض مكاتب الوساطة العاملة في السوق بناء على تنسيب من هيئة الأوراق المالية والسلع والذي تضمن الطلب من السوق إيقاف مستثمرين عن التداول بصفتهم الشخصية أو أي صفة أخرى لمدة سنة.
وأكدت الهيئة في خطابها للسوق ان قرار إيقاف المستثمرين المعنيين يشمل فقط عمليات الشراء للأوراق المالية المدرجة في الأسواق المالية المرخصة في الدولة.
كما تضمن القرار عدم قبول أي وكالة للتداول بالنيابة عن المستثمرين الذين تم إيقافهم عن التداول دون ادنى مسؤولية على السوق.
ولا يعرف على وجه الدقة عدد المستثمرين الذين تم إيقافهم عن التداول أو الأسباب الكامنة وراء ذلك وفقا لنص الرسالة التي أرسلتها إدارة السوق إلى مكاتب الوساطة العاملة امس.
Google translation:
Abu Dhabi investors to stop trading for a year
The UAE Tuesday, March 3, 2009 6:01
Decided ADSM to stop some investors from trading in their personal capacity, or any other capacity for one year with effect from the day before yesterday.
The resolution, which was distributed to some brokerage offices working in the market based on the placement of the Securities and Commodities Authority, which included the demand of the market to stop investors from trading in their personal capacity, or any other capacity for one year.
She stressed in her body to the market that the decision to stop investors concerned only include the procurement of securities included in the financial markets licensed in the State.
It also contains a non-acceptance of any agency of the trading on behalf of investors who have been suspended from trading without any responsibility on the market.
Do not know the exact number of investors who have been suspended from trading or the underlying causes, according to the letter sent by the market management offices working on mediation.
Joined: 19 Aug 2005 Posts: 13362 Location: up the wadi without a paddle
Posted on Wed 04 Mar 2009 14:39 by sharewadi
What's the source and date of this statement? ADSM was renamed as ADX last year. I don't see a statement on the Abu Dhabi stock market (ADX) website - in English or in Arabic ... _________________ UAE IPO list | posting guidelines
Today morning Joe mentioned in the Chat room that something was in Maktoob related to Arkan speculations. I asked for the link and translated with online Google translator
Strange piece of news. I can't find it anywhere else. Does anyone know where the maktoob forum got it from? It sounds significant but I don't really know if it is. _________________ UAE IPO list | posting guidelines
A "wash" is when companies/investors buy and sell stocks between themselves to bring the price up or down. _________________ Nakheel bonds SOLD at a lovely lovely profit...My current holdings right now FGB, Deutsche Bank, Credit Suisse, Barclays and Aldar.
The Arkan (ARKAN) share price was being manipulated resulting in a ban on some investors. ESCA announced the investor ban on 25 February 2009. Still nothing on the ADX website. Nothing on the ESCA website either, although there is a statement dated 04 March 2009 that ESCA has signed an MoU with the UK Financial Services Authority (FSA). A nice bit of irony don't you think . Not very encouraging for all those foreign investors that the UAE apparently wants.
ESCA Press Release 04 March 2009:
H.E. Abdullah Al-Turifi the CEO of SCA stressed on the importance of this agreement being it boosts the cooperation through exchanging information, and, speeds collaboration concerning issues of mutual concern where it subsequently consolidates the orderly and fair transactions in the financial markets in both countries.
Adding that, numerous positive effects will be valued as a result of this agreement, the most important one is the increasing of investments in both countries.
And it's taken 2 weeks for the English press to pick up on the Arkan story (unless I missed something) . Another good day for Abu Dhabi investor relations. As for the Arkan share price, it seems to have taken a long time for the authorities to figure out something was amiss. Arkan shares have looked way overpriced for many months, if not more than a year.
The National 10 March 2009:
Arkan falls 9% on investor ban
Sara Hamdan
Arkan Building Materials (ARKAN) share prices extended their downwards run by dropping more than 9 per cent on the Abu Dhabi Securities Exchange (ADX) Tuesday, after four investors found guilty of violating trade rules were banned from buying the stock.
The Securities and Commodities Authority (SCA) said it was suspending four investors from buying shares across UAE markets for a year starting March 1, because of manipulation of Arkan stock.
Share prices of Arkan, an Abu Dhabi-based construction firm, have fallen 30 per cent since Feb 25, when the market regulator announced the investors’ suspensions.
Arkan shares fell 9.94 per cent on the ADX yesterday to close at Dh4.71 (US$1.28 ).
“In light of the investigations that were carried out... and the violations of SCA regulations uncovered during those investigations, the authority has decided to suspend the... investors,” Reuters quoted the regulator as saying.
“The suspension only includes the purchase operations listed in licensed markets in the country.”
The SCA also investigated employees at brokerage firms trading in Arkan stock from April 1 last year.
Arkan shares rose 39.5 per cent between Feb 5 and Feb 11 to an all-time high, bucking the trend during the property downturn.
Since Jan 1 last year, the ADX general index has fallen 48 per cent, while Arkan shares have risen 24 per cent in the same time.
“That’s strong outperformance, which looks odd, especially as there’s no news that came from the company to explain why the firm was performing in this manner,” said Ali Khan, the managing director of the investment bank, Arqaam Capital.
At the time, analysts said a small group of Abu Dhabi investors had been propping up shares.
“Arkan shares saw extraordinary growth earlier this year without good reason, as the building materials sector is expected to slow down,” Ayman el Saheb, the director of operations at Dubai-based Darahem Financial Brokerage, told Reuters. “So there were whispers in the market that something was amiss.”
Arkan posted a net loss of about Dh450m in the fourth quarter of last year as it booked losses on equity investments and the value of its steel inventory declined.
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. Not very encouraging for all those foreign investors that the UAE apparently wants.
. Another good day for 