Dubai Discusses Bourse Link-Up With Bahrain and Amman
The Dubai Financial
Market and the Bahrain and Amman stock exchanges are reported
to be discussing a joint stock exchange venture linking growth
and IT companies. Industry sources have said that the exchange
would be for companies with growth potential, and might well be
the precursor to a regional common market, an idea which has been
toyed with for some time now. The setting up of
a common platform may well be facilitated by the fact that the
United Arab Emirates, Bahrain and Jordan stock exchanges use the
same computer system. An official statement issued in Amman by
Jordan's IT professionals' association - int@j - said the future
stock exchange would 'raise capital for the IT industry, provide
easy exit mechanisms and attract more venture capitalists by offering
a diverse investor base and more liquidity'. Speculation is that
the joint technology market could be launched within the next
year. It is being hailed as 'a shortcut on the way to easier listing
on the Nasdaq in the future'. According to int@j, the exchange
may also 'become a forerunner of any number of Middle East economic
and financial cooperative institutions seeking market niches and
economies of scale.' .
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