The Dubai International Financial Exchange (DIFX) on Monday welcomed the listing
of NASDAQ-listed Netsol Technologies Inc., a California-based IT company with
extensive interests in the Middle East and Asia.
It is the first dual listing of any company on the DIFX as well as a US exchange,
following Netsol’s listing on NASDAQ in 1999.
The same pool of ordinary
shares is tradeable on both exchanges and investors can move the shares between
them, using a link created through the DIFX and the share registry Computershare.
Commenting on the new listing, Per E. Larsson, Chief Executive of the DIFX,
stated that: “The DIFX is a capital markets bridge between this region and
the rest of the world, allowing issuers and investors to reach each other more
easily. As a US company already listed on NASDAQ and with business interests
in this region, Netsol is well placed to benefit from the close links between
the DIFX and regional brokers and investors.”
More than 3,000 companies are currently listed on NASDAQ.
Dr Armen V. Papazian, Senior Vice President of Market Development at the DIFX
observed that:
“The DIFX provides many unique advantages to issuers. It is
the only exchange in this region that offers fungible dual listings with other
exchanges and the only one with contractual market makers to provide liquidity.
The DIFX is also the only exchange in the region with a broad mix of regional
and international Members, including leading global investment banks.”
Bruce Aust, Executive Vice President of NASDAQ OMX Corporate Client Group,
added: "By creating NASDAQ OMX we are now able to offer listing opportunities
in the US, Europe and Middle East. We are very pleased that Netsol Technologies
has chosen to expand their presence to additional NASDAQ OMX markets. We hope
that more companies will follow Netsol Technologies' example in order to raise
capital and attract investors on a global scale.”
NASDAQ OMX bought one third of the shares in the DIFX in February 2008. Two
thirds of the shares in the DIFX are owned by Borse Dubai.