DIFX welcomes Netsol Technologies Inc., first dual listing with a US stock exchange
The Dubai International Financial Exchange (DIFX) today welcomed the listing of Netsol Technologies Inc., a California-based IT company with extensive interests in the Middle East and Asia.
It is the first dual listing of any company on the DIFX as well as a US exchange, following Netsol's listing on NASDAQ in 1999. The same pool of ordinary shares is tradeable on both exchanges and investors can move the shares between them, using a link created through the DIFX and the share registry Computershare.
Per E. Larsson, Chief Executive of the DIFX, said: 'The DIFX is a capital markets bridge between this region and the rest of the world, allowing issuers and investors to reach each other more easily. As a US company already listed on NASDAQ and with business interests in this region, Netsol is well placed to benefit from the close links between the DIFX and regional brokers and investors.'
More than 3,000 companies are listed on NASDAQ.
Dr. Armen V. Papazian, Senior Vice President, Market Development, of the DIFX said: 'The DIFX provides many unique advantages to issuers. It is the only exchange in this region that offers fungible dual listings with other exchanges and the only one with contractual market makers to provide liquidity. The DIFX is also the only exchange in the region with a broad mix of regional and international Members, including leading global investment banks.'
Bruce Aust, Executive Vice President of NASDAQ OMX Corporate Client Group, said: "By creating NASDAQ OMX we are now able to offer listing opportunities in the US, Europe and Middle East. We are very pleased that Netsol Technologies has chosen to expand their presence to additional NASDAQ OMX markets. We hope that more companies will follow Netsol Technologies' example in order to raise capital and attract investors on a global scale.'
NASDAQ OMX bought one third of the shares in the DIFX in February 2008. Two thirds of the shares in the DIFX are owned by Borse Dubai.