Dubai: The Dubai Financial Market said on Thursday that it has entered into an agreement with Misr for Central Clearing, Depository and Registry (MCDR) to promote dual listing of shares.
The agreement will also reinforce collaboration on various areas including dual and multi listing of securities and sharing of capital market expertise, particularly on training and improving skills and proficiency of capital market employees and participants in both countries.
This “will benefit investors as well as companies considering that Egypt is an important market for UAE businesses including many DFM-listed companies and similarly, many Egyptian companies are operating in the UAE. We believe that these companies provide perfect candidates for dual listing. According to this agreement, we will create a favourable environment that encourages companies to list on both markets,” said Eisa Kazim, Chairman of DFM in a statement.
DFM is the leading dual listing venue for regional companies, with 12 listed securities from Kuwait, Bahrain and Sudan and the agreement is greatly expected to drive dual listings from Egypt considering the robust and rapidly developing relations between the UAE and Egypt.
