Dubai: Marka, recently incorporated with a capital of Dh500 million, announced on Thursday that the company is now formally established as a public joint stock company.
The company has obtained the final approval from the Ministry of Economy, the Securities and Commodities Authority (SCA) and Dubai’s Department of Economic Development (DED).
Jamal Al Hai, chairman of Marka, said in a statement that the company now looks forward to rolling out ambitious plans to cement the status of Marka as a key player within two of the fastest growing economic sectors in the UAE.
“The Board of Directors is currently working on the listing the company’s shares on the Dubai Financial Market, which is expected to be finalised soon,” he stated.
Last month, Marka named its first board of directors for a term of three years. The inaugural general assembly of Marka ratified the memorandum of association and articles of association of the company and approved the proposal submitted by the Founders Committee.
Marka is scheduled to list its shares on the Dubai Financial Market, where it will be the first listed public joint stock company within the retail sector in the UAE.
