Dubai:
Dubai Financial Market (DFM) said on Monday it has signed a Memorandum of Understanding (MoU) with the Sharjah Investment and Development Authority (Shurooq), creating the necessary foundation for an extensive cooperation between the two sides.
The agreement aims at streamlining private and family businesses’ access to DFM’s innovative services and realising the numerous benefit of going public and listing on DFM, the bourse said in a statement.
According to this agreement, the two sides will outline and jointly implement a concerted effort to further increase awareness among Sharjah-based private and family businesses’ about the vital role of capital markets, prospects of going public and listing on DFM and the streamlined access to the market.
The agreement also facilitates the listing of Sharjah’s Private Joint Companies on DFM’s Second Market platform as an alternative option to the IPO and main market listing.
“Considering the many dynamic and growing private and family businesses in Sharjah, the agreement is a significant step in our efforts to achieve our strategic objective by further attracting companies from various economic sector to the market,” Essa Kazim, Chairman of DFM, DFM said in a statement.
The agreement outlines ways of sharing knowledge and market intelligence on potential companies that are eligible to go public and list on DFM as well as jointly organising workshops for private and family businesses on the IPO regulatory framework, highlighting the benefits of going public in realising companies’ growth strategies.
