Tamweel plans request to restart share trading
Trading on Tamweel’s shares was suspended in 2008 after it was announced that the firm would merge with its rival Amlak.
February 21, 2010 11:23 by kippreport
Dubai-based mortgage lender Tamweel plans to request that its shares resume trading next month, its chairman Sheikh Khaled bin Zayed al-Nahyan told Reuters on Sunday. “Once our full financial numbers (2009) are released we will request for trading to resume,” he said, adding that the firm is also in talks with the UAE federal government for financial assistance in 2010.
Trading on Tamweel’s shares was suspended in 2008 after it was announced that the firm would merge with its rival Amlak. While the process has been hit by delays since then, Sheikh Khaled said that the merger was still “feasible” during the first quarter of this year. However, he said that the continuation of trading in its shares was not related to the merger.