Dubai: Tecom Group, a subsidiary of Dubai Holding and the operator of Dubai internet City and Media City, will be listed on DFM.
The listing is a part of the strategy of the Dubai Securities and Exchange Higher Committee, chaired by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, to increase the size of the stock market in the emirate to Dh3 trillion in the coming period.
Tecom has 10 business communities that offer infrastructure and industry-friendly regulations to help its partners succeed and grow their operations in Dubai. Tecom’s business communities include Dubai Internet City, Dubai Media City, Dubai Design District and Dubai Industrial Park.
The Securities and Exchange Higher Committee’s strategy seeks to list government and state-owned companies on the Dubai Financial Market (DFM) as part of its plans to accelerate new listings in various sectors including energy, logistics and retail, in addition to adopting innovative financial tools and instruments that meet the current needs of investors.