Economic Zones World (EZW) and NASDAQ Dubai have agreed to jointly identify companies in Dubai’s Jafza free zone that many benefit from an IPO on the exchange. EZW, the operator of Jafza, will work with the exchange to provide companies with information and support, including listing workshops and training programmes.
The agreement, made through a memorandum of understanding, supports the Dubai government’s objective of promoting a favourable environment for the growth of international and regional companies. More than 6,500 companies are based in the free zone.
Mrs. Salma Hareb, Chief Executive of EZW, said: “Convenient access to capital and financing options are of paramount importance to our customers. We consistently aim to provide optimal solutions and facilities that ultimately enable our customers to grow successfully.”
Jeff Singer, Chief Executive of NASDAQ Dubai, said: “Jafza hosts many of the region’s most dynamic enterprises and NASDAQ Dubai is excited to be working with EZW to promote listing opportunities for them. The exchange enables company owners to sell shares at market value through a book build IPO, with active trading on a liquid platform used by 77 companies listed on Dubai Financial Market (DFM) as well as NASDAQ Dubai.
“We look forward to discussing IPO possibilities with SMEs in Jafza as well as larger companies, including subsidiaries of foreign entities.”
NASDAQ Dubai published proposed changes to its listing rules in January 2011, aimed at increasing liquidity on the exchange and attracting SMEs including family companies. It expects to finalise the changes shortly afer considering feedback from market participants, subject to regulatory approval.