Thank you for reading the news about World Petroleum Congress to be held in Riyadh in 2026 and now with the details
Jeddah - Yasmine El Tohamy - Dubai: Dubai Financial Market said on Monday it planned to adopt a new methodology for its main equities indices, which will come into effect in the fourth quarter, according to Reuters.
The Dubai bourse’s general index, Sharia index and sector indices, will be calculated by S&P Dow Jones Indices, it said in a statement.
A key improvement among the changes is a limit on the weighting of a listed company to 10 percent from 20 percent, which should result in a larger representation of companies on the DFM’s benchmarks, it said.
The Dubai bourse said the index calculation will be based on actual free float adjusted market capitalization, and that the indices will be rebalanced on a quarterly basis, from semi-annually currently.
The bourse plans to align its sectors with an industry classification standard which is followed by institutional clients, it said.
DFM will have seven sectors: financials, industrials, real estate, utilities, communication services, materials and consumer staples.
The bourse has invited market participants for consultations on the index methodology ahead of possible changes, with the revised indexes to be launched in Q4, it said.
The changes follow a flurry of initial public offerings from state-linked entities this year, part of a government program intended to attract investors and boost activity on the stock exchange.
Toll-road operator Salik , which listed last week, raised 3.735 billion dirhams ($1.02 billion) by selling a 24.9 percent stake in its initial public offering, giving the company a market value of 15 billion dirhams.
Dubai business park operator TECOM Group in June raised 1.7 billion dirhams through the sale of 625 million ordinary shares, equivalent to 12.5 percent of the company in an IPO.
Dubai’s Water and Electricity Authority, known as DEWA, in April raised over $6 billion for its IPO, the region’s biggest since Saudi Aramco.
These were the details of the news World Petroleum Congress to be held in Riyadh in 2026 for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.