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00:00 The second step in the 2024 Dubai financial market is the Emirati Spenis trip.
00:08 From the acquisition to the step in the Dubai financial market.
00:12 First, the annual offer to the company.
00:15 The company had offered 25% of the capital with the interest of the offer at 1.38 billion UAE dirhams.
00:26 But the note in the cover of the offer, the requirements for the acquisition of the Spenis share were approximately 71 billion UAH.
00:35 And the coverage ratio was 64 times.
00:39 And thus, it is the highest level of acquisition for non-governmental companies in recent years.
00:46 But what about the net profits of the company?
00:49 We are talking about the final offer price was 1.53 dirhams.
00:56 And the market value with the official acquisition of the company is 5.5 billion UAH.
01:04 Moving on to the rest of the details of this company, especially its net profits.
01:10 We had a growth of approximately 20% to 256 million UAH.
01:18 We are talking about 2023, with a 4.214 million UAH in the year before 2022.
01:29 This was supported by the growth of the interest in the areas where the company operates.
01:35 Especially the Emirati market, where the interest grew by 10% to 2.8 billion UAH.
01:45 While in the Omani market, the interest of Spenis was 5% to 94 million UAH.
01:53 But what about the policy of distribution?
01:56 We are talking about half-year distribution.
01:59 The company is talking about two distributions.
02:01 The first distribution in April and the second in October.
02:04 And 70% of the annual profits are distributed.
02:08 But let's talk about the company's strategy after the acquisition.
02:12 It is talking about opening three new stores in the Emirates.
02:16 But the most important thing is the expansion in the Saudi market.
02:19 Where it is committed to opening its first store in the Saudi Arabian Kingdom.
02:25 So, Spenis is the second step in the Dubai financial market since the beginning of 2024.