By Amr Adel
Dubai – Mubasher: NASDAQ Dubai is presently holding talks with a number of EGX-listed companies on floating their shares and dual listing, revealed informed sources that asked to stay anonymous.
A delegation presided by Hamed Ali, NASDAQ Dubai's chief executive, is currently in a visit to Egypt for presenting procedural and regulatory mechanisms controlling the dual-listing process, the sources added.
In 2014, NASDAQ Dubai drew up a cooperation agreement with Egypt’s Misr for Central Clearing, Depository & Registry (MCDR) to establish the essential infrastructure that allows companies on both stock markets to dually list their shares for diversifying investment opportunities.
Orascom Construction took the lead to be the first cross-listed Egyptian company, whose shares were first traded on NASDAQ Dubai and EGX in March, 2014.
This new link enables Egyptian brokers to directly trade NASDAQ Dubai securities through NASDAQ “permanent membership, benefiting from MCDR’S relationship with the exchange, NASDAQ stated.
Translated by Ahmed El-Sayed Ali
