The listing of shares of Fortune Management Inc (FMI) on the Dubai International Financial Exchange will help to open up the region to global investors, according to Henry Azzam, Chairman of the DIFX.
“This is a clear message to the European market that the DIFX, as the only exchange in the region to be regulated to international standards, offers access to a region witnessing tremendous growth,” Dr. Azzam commented as FMI's shares were listed in a non-capital raising secondary listing on June 1.
“This listing is a new milestone in the development of the exchange and is expected to encourage more European companies to list on the exchange," he declared.
Swiss-based FMI is the latest in a pipeline of companies to list equity products on the exchange, reflecting the confidence of the business and financial community in the DIFX.
In the GCC region, FMI, a leading private European equity firm whose shares are also listed on the Frankfurt Stock Exchange, is preparing the launch of a number of regional private equity funds in collaboration with local institutions. For that purpose, the company plans to substantially expand its current operation in Dubai.
“We welcome the first continental European company to list on the DIFX," Nasser Alshaali, Chief Operating Officer of the DIFX, commented.
"The success we have seen so far is just the beginning, as we expect to attract more international and regional listings in the coming months and broaden our range of products available," he added.
Rene Mueller, Chief Executive of FMI, added that: “This listing on the DIFX shows our commitment to the region. It is part of our global strategy in which the Middle East plays a vital role. We have planned a number of initiatives in the region.”
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