The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Capital Markets

Dubai exchange set for listings surge

The first ordinary-share listing on Dubai's new stock exchange could trigger a wave of similar issues. James Rice investigates how international law firms are reacting to developments in the region

This article appears courtesy of International Financial Law Review

Nasser Alshaali, the chief operating officer at Dubai's International Financial Exchange (DIFX), is happy to be a busy man. After months of slow activity, the success of the exchange's second initial public offering (IPO) has re-intensified public interest - so much so that he has just appeared on Sama Dubai TV to talk to an intrigued public about DIFX's prospects. The concerns created by limited trading in Investcom stock must now seem far away.

The Kingdom Hotel Investments IPO, which listed regular shares on the DIFX for the first time, was a coup for the exchange: many had predicted a launch on the more liquid and more established Saudi bourse. Potential issuers were able to see international investors' appetite for the stock, as well as the successful application of the exchange's regulatory and trading apparatus. This was critical after trading in stock from the first IPO on DIFX, Investcom, was delayed for months while the trading platform was developed.

"Kingdom Hotel Investments was in essence an ideal profile for an issue on the market," says Alshaali. "It is a well-structured company with international assets and aggressive growth aims."

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree