By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market (DFM) on Tuesday will list the shares of Khaleeji Commercial Bank on the foreign corporate sector to be the first dual listing since November 2016.

The listed shares will not exceed 10% of the bank’s capital, according to a previous statement.

The bank will not allow investors who own or will own 5% or more of its capital to implement trading on the DFM.

The firms aim to generate further liquidity through dual listing, said Al Safwa Mubasher’s CEO Ehab Rashad.

The stock markets plan to list foreign companies to provide more investment opportunities for investors, Rashad added.

These listings highlight the large turnout that lures regional companies to dual list on DFM which provides state-of-the-art investment instruments like its global peers,  said MindCraft Consultants’ CEO Fadi ElGhattis.

Listing Khaleeji Commercial Bank increases the number of foreign firms on the DFM to 17.

The hike of listing companies, particularly the dual listing will drive the bourse to add new sectors, ElGhattis added, concluding that the new listings will provide more firms and sectors for investors.

Translated by: Mohamed Hesham Azab