Introduction
The Securities Exchange of the Dubai International Financial Centre, NASDAQ Dubai, recently issued a consultation paper (1/2011) to facilitate public discussion regarding proposed changes to its Listing Rules. The proposed changes relate to both the framework and content of the Listing Rules, which have been in place since September 2005.
The amendments are designed to increase participation by individual investors (both institutional and retail) in initial public offerings (IPOs) and to create a new and more flexible regulatory regime. The amendments are aimed at further attracting family companies as well as small and medium-sized enterprises, with a view to creating new investment opportunities.
NASDAQ Dubai has continued to promote an open dialogue with its market participants and has developed working groups with those participants through the course of the past two years to ensure that sufficient feedback had been received before seeking comment on the proposed changes.
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