By: Mahmoud Gamal
Dubai – Mubasher: DXB Entertainments’ stock rose on Thursday after the company announced new expansions and denied its listing on the Saudi Stock Exchange (Tadawul).
The stock rose 0.9% to AED 0.951 by 1:32 pm UAE time, generating AED 9.19 million from the exchange of 9.67 million shares through 195 transactions.
The company has announced earlier its intent to grow its Lapita brand in the region.
Denying the company’s listing on Tadawul will not affect its stock’s trend, according to Fady El-Ghattis, CEO of Topsy Turvy Consultations.
The company’s first-quarter financial announcement is one of the main factors that will determine the stock’s trend, he added.
Translated by: Julian Nabil