Dubai may consider launching a secondary initial public offering (IPO) market and a bourse dedicated to trading of shares of small and medium-sized enterprises, a top government official said on Monday.
"The Dubai SME 100 will serve as the foundation of other initiatives such as possible development of a SME secondary IPO market listing, and the building of an equity market dedicated to SMEs," Sheikh Ahmed bin Saeed al-Maktoum, chairman of Supreme Fiscal Committee and an uncle of the emirate's ruler, told reporters at a conference in Dubai.
Dubai SME, an agency under the Dubai Department of Economic Development (DED), launched the "Dubai SME 100" on Monday, a ranking of top-performing small and medium enterprises in Dubai.
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