Dubai Financial Market, Egyptian Exchange in bid for firms to list with both

The Dubai Financial Market (DFM) is working with the Egyptian Exchange to make it easier for companies to list their shares on both bourses, the DFM said in a statement on Monday.

The framework, which is particularly for companies with operations in both countries, aims to boost liquidity and offer investors more diversity.

Egypt's benchmark index is still recovering from heavy losses incurred following the uprisings that led to the ousting of Hosni Mubarak, the former president, from office.

"The DFM is the main destination for companies looking for a dual listing in this region with 20 listings from Kuwait, Bahrain, the Sultanate of Oman and Sudan," said Essa Kazim, Managing Director and CEO of the DFM.

"The Egyptian market is one of the main international markets for UAE companies including many DFM listed companies. Similarly, there are many Egyptian companies that have major operations in the UAE.

"Those companies are ideal for potential dual listings, and we are going to have the suitable framework to see this happening at the earliest", he added.