Nasdaq Dubai panel discusses SME market
Dubai, February 17, 2013
A panel of experts, established by Nasdaq Dubai to prepare for a proposed new market for small and medium-sized enterprises (SMEs), has discussed issues related to the setting up of the new market.
The market is aimed at facilitating SMEs to offer shares to the public.
The advisory group, at a recent meeting, studied regulatory models and the ideal practical framework to attract issuers from the Middle East and around the world to carry out initial public offerings (IPOs) and other listings on Nasdaq Dubai, reports said.
Many SMEs are starved of the capital they need to grow and an IPO on Nasdaq Dubai will enable them to raise the funds they need, said Hamed Ali, acting chief executive of Nasdaq Dubai.
A market for SMEs and high-growth companies on Nasdaq Dubai would benefit regional and international issuers who wish to increase their visibility in Dubai and help them expand their activities in other countries.
There are more than 72,000 small businesses in Dubai, contributing about 40 per cent to the emirate's GDP.
Apart from Nasdaq Dubai, the advisory group comprises Dubai SME, the agency of the Department of Economic Development mandated to develop the SME sector, and leading investment bankers, lawyers, accountants and investor relations experts.