The new listing reinforces DFM position as the "Market of Choice" for Kuwaiti companies looking for dual listing
Dubai, 14 November 2016: Dubai Financial Market (DFM) today welcomed the listing of Kuwait’s National International Holding (NIH), as Mamdouh Al Shirbini, Chief Executive Officer of NIH rang the market opening bell in the presence of His Excellency Essa Kazim, Chairman of DFM and other representatives from both sides.
The company shares commenced trading on Monday, 14 November 2016, under the trading symbol “NIH”, which appears on DFM screens, trading systems and publications within the Investment and Financial Services sector.
The listing of NIH lifts the total number of equity listings to 61 public joint stock companies, including 13 dually listed companies and further increases the number of Kuwaiti companies listed on DFM to nine companies.
This listing further fortifies the prominent position of DFM as the most preferred listing venue for leading local and regional companies.
Commenting on this development, H.E. Essa Kazim said: “We are delighted to welcome the listing of National International Holding on DFM, which not only further strengthens the Investment and Financial Services sector but also provides investors with new investment opportunities. Today’s listing reinforces DFM’s position as the market of choice for Kuwaiti companies seeking a dual listing, reflects the high level of confidence businesses have in our exchange and the role DFM plays to support the growth story of successful companies.”
“DFM is constantly looking to diversify the range of opportunities offered to its enormous investor base by encouraging and partnering with companies from around the region, active in various sectors to benefit from listing and trading on the region’s leading stock exchange. Undoubtedly, regional companies look upon DFM as an attractive exchange with a proven track record of professionalism and world class regulatory and operational infrastructure.” H. E. Essa Kazim added.
“Through this step, NIH accomplishes its strategy of local and regional expansion, as our investors can now trade on company’s share in both Kuwait and Dubai and benefit from the overall successes it has been achieving. The listing also reflects NIH’s growth with the implementation of a fruitful strategy aiming at recoding excellent returns for shareholders and customers,” Mamdouh Al Shirbini, CEO of NIH said.
“DFM’s management plays an active role to encourage listing of local, GCC and international companies supported by DFM’s stability and active trading as the market hosts enormous investment opportunities,” he added.
NIH was established in 1979 and according to Al Shirbini; the company has various revenue-generating projects in Kuwait, the GCC as well as the European markets. The company focuses on high return opportunities in many sectors such as real estate, investment, industry and technology.
About Dubai Financial Market:
Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000 and became the first Islamic Shari’a-compliant exchange globally since 2007. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 billion, DFM became a public joint stock company and its shares were listed on 7 March 2007 with the trading symbol (DFM). . Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae
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Vice President – Head of Media & Public Relations
Dubai Financial Market
© Press Release 2016