SHUAA Capital psc (DFM: SHUAA), the leading asset management and investment banking platform in the region, welcomes the decree issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, requiring all joint stock companies to list their stocks in local securities exchanges in Dubai, whenever the conditions stipulated in the decree apply and in accordance with the rules of the local markets, within a period not exceeding 12 months from the date of the implementation of the decree.
SHUAA Capital, the oldest investment bank in the Middle East region, established in 1979, has been a pioneer in the UAE’s capital markets, to date taking a lead role in 22 IPOs valued in excess of AED 50 billion. It has recently also become active in the issuance of regional corporate fixed income bonds and Sukuks.
SHUAA Capital’s in-depth experience and demonstrable track record of working with the relevant regulatory bodies in the UAE is the natural outcome of taking part in most of the landmark IPOs on the UAE’s stock exchanges. SHUAA Capital looks forward to supporting UAE corporates looking to list on the local stock exchanges in compliance with this decree.
Commenting on the announcement, Jassim Alseddiqi, Group Chief Executive Officer of SHUAA Capital, said: “SHUAA Capital has an enviable track record as a leading financial advisor to UAE and international corporates. We are ready to provide listing and underwriting services to corporates seeking to list on our local exchanges. We believe this to be a long-term positive for corporates, which will benefit from the numerous advantages of a public listing – including enhanced reputation and access to capital. Furthermore, we believe this has the potential to be a game-changer for the country’s capital markets, setting them firmly on an exciting new growth path.”