The Dubai Financial Market (DFM) recently organised a roundtable about the listing opportunity on its “Second Market” Platform, in cooperation with the Dubai Chamber of Commerce and Industry and the Dubai Entrepreneurs Council. The discussions focused on how private companies can unlock capital market opportunities through listing on the “Second Market” Platform, especially that availing the numerous benefits of listing makes private companies well positioned for sustainable growth.
The roundtable attracted 45 private companies representing various economic sectors such as; industry, technology, retail, finanace, property and construction, food and beverages, in addition to senior representatives from IPO and listing advisory firms.
Panelists addressing the audience included Fahima Al Bastaki, executive vice president, head of business development division, DFM; Dr. Munther Barakat, senior financial markets advisor, securities and commodities authority (SCA); Ahmed Ibrahim, managing partner, Matouk Bassiouny and Ibrahim, as well as Khalifa Rabba, vice president, deputy head of operations Division, DFM.
Essa Kazim, Chairman of DFM said, “The DFM’s “Second Market” provides private business owners with a comprehensive platform for trading, settlement and depository of their securities as well as strengthening companies’ public presence through DFM’s large and diversified investor base of 843 thousand investors as well as dozens of local and international brokerage firms and analysts. This will reinforce the company’s attractiveness and creates value for its owners. Alongside the numerous benefits of the “Second Market” for private companies, the listing may also represents a first step that prepares companies for potential IPOs and this is one of our main objectives in order to deepen the list of securities and provide market participants with diversified investment opportunities.”
Hamad Buamim, president and CEO, Dubai Chamber of Commerce and Industry, noted that the strong participation in the roundtable reflects growing interest among private companies in Dubai that are keen to explore the benefits of listing on DFM’s Second Market, adding that the platform caters to the needs of Dubai’s maturing business community.
“The event supported the chamber’s efforts to facilitate the contribution of the private sector toward Dubai’s economic development and enhance the emirate’s global competitiveness. We are committed to providing businesses of all sizes with access to new opportunities, knowledge and tools that can help them thrive and grow,” said Buamim.
“The DFM endeavours to educate private and family businesses on market developments and the favorable regulations the SCA has created in order to enhance their presence on the capital market through an accelerated process enabling them to list within a short period. The regulator and the DFM provide the necessary support during the pre-listing stage. We regularly connect with companies’ managements, hold educational events and issue practical guides to support them in their preparation for capital market’s environment. The UAE has approximately 150 private joint stock companies in addition to the limited liability companies, therefore this platform has huge potential and the listing will enable private businesses a greater access to funds necessary for expansion. It also enhances competiveness via implementation of best practices of transparency, corporate governance and investor relations. These practices are crucial for any company looking to be well positioned to tackle challenges of development and growth,” Bastaki said.