UAE cabinet to allow trading companies to issue IPOs:
The UAE Cabinet on Sunday adopted an amendment to the country’s Commercial Agencies Law, which would allow trade agencies to convert into public shareholding companies.
Trade agencies are a popular method of doing business in the country, created when a UAE entity, typically a family-owned business, entered into an agreement with international agents or distributors.
The change in the law would allow trading agencies to raise fund from local stock markets.
No comments:
Post a Comment