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MCDR, NASDAQ Dubai to ink dual listing deal in September

MCDR, NASDAQ Dubai to ink dual listing deal in September
Egypt’s Misr for Central Clearing, Depository & Registry (MCDR) will sign early next month a cooperation agreement with UAE’s NASDAQ Dubai to allow listed companies on both stock markets to dually list their shares in a bid to diversify investment opportunities offered to investors.
Mohamed Abdel Salam, Chairman, MCDR, said in an exclusive to Al Wafd newspaper that MCDR is keen on dual listing with all bourses in the region in order to facilitate dealings for companies wishing to trade in more than one stock market.
The agreement also includes exchange of technical expertise and skills between Egypt and UAE’s bourses.
MCDR had concluded several link-ups in preparation for dual listing with Kuwait Stock Exchange (KSE), Abu Dhabi Securities Exchange (ADX) and other markets in the region.
Abdel Salam also said that MCDR has recently completed a study of the DVP mechanism and will submit it to the Egyptian Financial Supervisory Authority (EFSA) for endorsement.