Crown Prince of Dubai launches Nasdaq Dubai Growth Market for SMEs

Crown Prince of Dubai launches Nasdaq Dubai Growth Market for SMEs

His Highness Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, has announced the launch of the Nasdaq Dubai Growth Market, to support SMEs achieve the next phase of their expansion, by raising capital through an initial public offering (IPO). The initiative will allow fast-growing companies to achieve a streamlined and cost-effective listing on the region’s international exchange.

H.H. Sheikh Hamdan is eager for Dubai to launch such initiatives in order to allow for growth across several sectors and create a supportive, collaborative environment for businesses to prosper. The initiative will fall under the Dubai Future District (launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum) as the largest specialised area in the region for creating the future economy by providing an investment, technical, legislative, service and incentive environment. The district links Emirates Towers with the Dubai World Trade Centre and the DIFC.

Read Also Zimbabwe: Seed Co International becomes the first company to be listed on VFEX

The Nasdaq Dubai Growth Market aims to add further momentum to Dubai and the UAE’s established role as the Middle East’s hub for business and finance and will serve as an incubator for innovative projects. It will welcome not only companies in the UAE, but also list companies from around the world to help them expand in the region and internationally. H.H. Sheikh Hamdan commented“SMEs are a key engine of our national economy. The launch of the Nasdaq Dubai Growth Market is a strategic step that will support this vital sector by opening new horizons for its companies and providing them with investment resources to expand their business and enhance their attractiveness in global markets.”

Essa Kazim, Governor of DIFC and Chairman of DFM, said“The launch of the Nasdaq Dubai Growth Market will be a milestone for the capital markets of Dubai and the region, by helping to expand the business activity and visibility of companies that choose to list on it wherever in the world they are based. The Growth Market is set to play a key role in the future of capital-raising and the channeling of investment to enterprising companies to enable them to succeed during all phases of the business cycle supported by their Dubai listing.”

Read Also: Denmark’s IFU Invests US$1.5m In Zambia’s GreenCo

Khalfan Belhoul, Chief Executive Officer of Dubai Future Foundation, added“The Nasdaq Dubai Growth Market will contribute to enhancing creativity and innovative thinking and support entrepreneurs and emerging companies by providing the financing needed for innovative projects, to accelerate their growth and create new markets for their services and products. The launch of this market constitutes a new step that strengthens Dubai’s leadership in supporting the innovation and entrepreneurship system and strengthens its position as one of the leading cities in the world in preparation for the future.”

While Nasdaq Dubai’s main market requires a minimum operation of three years, the Nasdaq Dubai Growth Market only requires one, and if businesses are valued below $250M, the initiative will allow them to be listed. Additionally, similar to Nasdaq Dubai’s main equity market, the Growth Market will allow owners of an enterprise to carry out their IPO while selling as little as 25% of the shares in their company, allowing them to keep control.

The initiative will launch early next year in line with the first IPOs, and companies that are not ready for an IPO will, however, be able to join the Private Market segment of the Growth Market. 

Read Full Article Here

GetFundedAfrica’s mission is to uplift people and economies in Africa through entrepreneurship; helping companies find funding, grow, create jobs and solve society’s greatest challenges

Guest Contribution, GFA Attract & Application Portal For Funding

This image has an empty alt attribute; its file name is image-35.png

Guest Contribution: Disruptive Digital Solutions Is Rewiring The DNA Of Banking

Imagine a bank whose customers can tap on a wearable device to make a payment, regularly receive updates on changes they could make to their investment portfolio through AI-generated insights. Read more

GFA Attract Interview

Victor Boyle-Komolafe, the co-founder of Garbage In, Value Out (GIVO), a system that automates and digitises the collection, processing, and sale of recyclable materials. Watch Here

Apply For Funding

GetFundedAfrica provides equity capital from $1,000 to $50,000.
For larger amounts (Above $50,000)
we organize syndicated funding rounds of up to $500,000.
Apply Here

Follow Us

See the source image
See the source image

“Business is always a struggle. There are always obstacles and competitors. There is never an open road, except the wide road that leads to failure. Every great success has always been achieved by fight, every winner has scars. The men who succeed are the efficient few –they are the few who have the ambition and will-power to develop themselves. So choose to be among the few today.”

– Chris Kirubi, Centum Investment, Kenya

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button