Dubai’s Amlak to resume trading in H2, says minister
Amlak has not traded since Nov. 2008, when its shares were suspended along with rival Tamweel
Dubai’s indebted mortgage lender Amlak, whose shares have been suspended since 2008, will resume trading on Dubai’s bourse in the second half of this year, the United Arab Emirates’ economy minister said on Monday.
“Our target is to list the company in the second half of this year,” Sultan bin Saeed al-Mansouri told reporters on the sidelines of an event in Abu Dhabi.
Amlak has not traded since Nov. 2008, when its shares were suspended along with rival Tamweel, as credit markets dried up and Dubai real estate prices began a slump which would see them fall more than 50 percent from their peak.
Dubai’s Amlak expected to resume trading in 2014Mortgage lender had its shares suspended in 2008 when global recession hit Banking & Finance
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