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DIFX welcomes Citigold of Australia

PUBLISHED ON 19-Mar-2007
DIFX welcomes Citigold of Australia
Citigold Corporation Limited, the Australian gold mining company, has become the first company from the East Asia/Pacific region to list on the Dubai International Financial Exchange (DIFX).

John Foley, Chairman, Citigold said: "As the region's international exchange, the DIFX is the ideal gateway for Citigold to connect with regional investors. Our listing of ordinary shares on the DIFX makes Citigold a leader in the international capital markets, just as we are at the forefront of the Australian gold mining industry.”

Computershare, the world's largest share registry, has created an innovative link that allows brokers and investors around the world  to easily trade Citigold’s shares on either the DIFX or the Australian Stock Exchange (ASX), where Citigold shares have been listed since 1993.

Per E. Larsson, Chief Executive of the DIFX, said: “We welcome Citigold as the first  company from its region to list on the DIFX. The exchange now has eight equity listings and these come from companies around the world, from Bahrain to South Africa and from Switzerland to India.

“The connection with the ASX through Computershare is the DIFX's first such dual listing link with an exchange outside the Middle East."

Mark Lynch, Managing Director and CEO, Citigold, said: “With the gold market in Dubai becoming a highly sophisticated market and the DIFX emerging as a trusted international stock exchange, we are confident that the opportunity to invest in gold stocks on the DIFX will be well received.”

Paul Conn, President, Global Capital Markets at Computershare said: "We are pleased to launch this cross border service for Citigold and the DIFX, and to extend it to other issuers that choose to dual list on the DIFX to gain access to investment and liquidity in the Middle East region.

“We also look forward to creating further links between DIFX and other markets around the world, as market demand warrants.” 

Hamed Ali, Executive Officer of the DIFX, said: “As well as looking forward to further listings from companies around the world, the DIFX is preparing for more listings from prominent firms in its own region. These will satisfy investor demand for a diversified product range and enable the issuers to reach a new investor base."

Citigold, which has its regional headquarters in Dubai, currently has nearly 50 UAE-based investors on its share register, who account for over 3 percent of Citigold stock. Citigold said it expects this figure to increase following the listing on the DIFX.

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