We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Sun 19 Jul 2020 04:34 PM

Font Size

- Aa +

Emirates REIT may delist from Nasdaq Dubai

Dubai Financial Services Authority is investigating matters connected to the management of the company

Emirates REIT may delist from Nasdaq Dubai

Last month Emirates REIT filed an application in the Dubai International Financial Centre Courts to find out the identify of those behind 'suspicious trades' in its shares.

Emirates REIT will start a comprehensive review of its strategic options, including a potential delisting from Nasdaq Dubai.

“The advantages of remaining publicly listed are heavily outweighed by the disadvantages,” the company wrote in a statement on Sunday. It cited the “climate” in the United Arab Emirates’ stock markets and the “cyclical downturn” in the real estate sector.

Earlier on Sunday, Emirates REIT said the Dubai Financial Services Authority is investigating matters connected to its management.

Last month Emirates REIT filed an application in the Dubai International Financial Centre Courts to find out the identify of those behind “suspicious trades” in its shares.

While in May, the company said it found evidence of irregular trading activity by certain market participants and reported it to the regulatory authorities.

Arabian Business: why we're going behind a paywall

For all the latest market news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.