Dubai: Nasdaq Dubai has signed a strategic cooperation agreement with Hong Kong-based Zhongtai Financial International and Beijing Tian Tai Law Firm Shanghai Branch, in order to support Chinese companies that wish to list on the Middle East’s international financial exchange.
Under the agreement the three parties will use their expertise to provide support and guidance to Chinese companies that wish to carry out initial public offerings (IPOs) on Nasdaq Dubai as well as list bonds, real estate investment trusts (REITs), funds and other securities.
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The agreement also covers the deposit of securities into the exchange’s Central Securities Depository. In the case of shares, this will enable companies to join Nasdaq Dubai’s Private Market, which can be the start of a journey towards a capital market transaction.
“Building on the close relationship between the UAE and China, Nasdaq Dubai offers a warm welcome to Chinese companies that seek regional and international investment as well as high global visibility for their businesses as they expand,” said Hamed Ali, Chief Executive of Nasdaq Dubai and Deputy Chief Executive of Dubai Financial Market
Nasdaq Dubai has hosted 19 debt issuances from Chinese companies since 2014, valued at $11.3 billion. They include two bonds totaling 1.2 billion US dollars listed by the Hong Kong branch of China Construction Bank in August 2020 and two bonds totaling one billion US dollars listed by Industrial and Commercial Bank of China in October 2019.
“Nasdaq Dubai’s extensive investor links and location in Dubai as the Middle East’s business and finance hub make it an ideal platform for Chinese issuers, as they increasingly see the value of an overseas listing to take their business to the next level,” said Gao Feng, Chairman and Chief Executive Officer of Zhongtai Financial International
Nasdaq Dubai is a multi-currency exchange that has hosted listings in renminbi, euros and sterling among others. It is the largest exchange in the Middle East for US-dollar denominated debt listings at $82 billion. Its investor base is spread across more than 100 countries.