Sunday 15 May 2011

Dubai Financial Market, Egyptian Exchange discuss framework to promote dual listing AMEinfo.com

Dubai Financial Market (DFM) announced it will collaborate with the Egyptian Exchange to set up a comprehensive framework that will pave the way for listed companies on both exchanges and specifically those with significant operations in the UAE and Egypt to dually list their shares.

This initial agreement between the two sides is the outcome of the Egyptian Exchange's delegation visit to DFM as part of a GCC roadshow. The delegation, headed by Mohammed Abdulsalam, Chairman of the Egyptian Exchange held discussions at DFM with Essa Kazim, Managing Director and CEO, DFM PJSC.

Commenting on this, Essa Kazim said: "The Egyptian Exchange is at the forefront of various regional and international exchanges DFM has kept close relations with since its inception in the year 2000. We are confident that this initial agreement to set up the required framework to promote dual listing constitutes a pivotal point that will further increase the cooperation between the two sides. We are considering a memorandum of understanding that will outline the areas of cooperation, the necessary mechanisms and the timeframe to achieve our goals in addition to sharing expertise in information technology and training."

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