Mezzan Holding soars 32% on Kuwait market debut



Mezzan Holding closed up 32.4 per cent in its debut on the Kuwait stock exchange on Thursday.

Mezzan, a consumer manufacturing company that operates in seven countries in the Middle East, was taken public after a private placement of 30 per cent of Mezzan’s equity was concluded on May 12.

Mezzan has a market capitalisation of US$961.8 million, as of the close of trading on Thursday. It began trading with a market capitalisation of $726.2 million.

The Dubai Financial Market’s benchmark index closed down 2.7 per cent as Arabtec and Amlak dropped.

Amlak fell 9.8 per cent to close at Dh2.10, after a six-session run of gains that saw the company more than double in price from its opening last week.

Arabtec fell 9.9 per cent, closing down at Dh2.64, down 29 fils against its opening price of Dh2.93, after two days of double-digit gains. Neither company has made disclosures to the DFM or the Emirates Securities and Commodities Authority providing a reason for the changes in price.

Development-related firms the National Cement Company, Deyaar Development and Union Properties all dropped. NCC closed down 9.8 per cent, while Deyaar dropped 8 per cent and Union Properties fell 6.8 per cent.

The Abu Dhabi Securities Exchange benchmark fell 0.7 per cent on Thursday.

Al Khazna Insurance fell 8.5 per cent, while Eshraq Properties fell 7 per cent.

Abu Dhabi Ship Building outperformed the market with a 9.4 per cent rise, while Asmak rose 7.1 per cent.

abouyamourn@thenational.ae

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Indoor cricket in a nutshell

Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side

8 There are eight players per team

9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.

5 Five runs are deducted from the score when a wickets falls

4 Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs

B Side nets, between the striker and halfway down the pitch: 1 run

C Side nets between halfway and the bowlers end: 2 runs

D Back net: 4 runs on the bounce, 6 runs on the full


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