New equity futures contracts on individual stocks of Aramex, Air Arabia and Du (formally known as Emirates Integrated Telecommunications Company) will be offered starting April 18, Dubai Financial Market announced on Tuesday.
The new contracts will have tenures of one, two and three months.
“The planned new contracts are part of our plan to expand the range of contracts, creating new opportunities for investors. We are pleased with the growing interest from investors seeking to diversify and hedge their portfolios and access leverage in order to maximize their transactions and returns,” said Hassan Al Serkal, CEO of DFM.
Du is 39 percent owned by Emirates Investment Authority, 20.08 percent by Mubadala Development Company, 20 percent by Emirates Communications & Technology Company LLC (ECT) and 20.92 percent by public shareholders.
Aramex, whose CEO is Bashar Obeid, was registered in Dubai in 2005. In September, ADQ acquired 22 percent stake in Aramex, making it the company’s biggest shareholder.
Air Arabia, a UAE budget air carrier, reported a third quarter loss due to coronavirus, but said it was well positioned to weather the pandemic.
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