Dubai Financial Market (DFM) has announced the listing of Naeem Holding for Investment, in a first step of its kind from an Egyptian company.

Trading commenced on the company’s shares under the trading symbol, NAHO, which appears on DFM screens, trading system and publications within the Investment and Financial Services Sector.

Youssef El far, Naeem Holding’s vice chairman and CEO, rang the market-opening bell in the presence of Essa Kazim, the chairman of the DFM, and Hussein Shobokshi, the chairman of Naeem Holding, as well as senior representatives from both sides.

The listing strengthens the prominent position of DFM as the most favoured listing venue for leading local and regional companies with 16 dual listing companies, and lifts the total number of listed companies to 67.

Commenting on the announcement, Kazim said: "We are delighted to welcome the listing of Naeem Holding on DFM as the first dual listing from Egypt on DFM. This significant step underlines the strong ties between the UAE and Egypt in general and the collaboration between DFM and both the Egyptian Exchange, EGX, and Misr for Central Clearing in particular."

"Building on what has been achieved, we believe that there is a sizeable opportunity to further strengthen this relationship in order to diversify opportunities for investors and create value for issuers," he stated.

Kazim said there were many leading companies listed on the DFM or the Egyptian Exchange that were actively operating in both countries and representing potential candidates for dual listing.

"This new listing underlines businesses’ high level of confidence in our exchange due to its world-class infrastructure, enormous and diversified investor base and innovative issuer services. These factors further strengthened DFM’s leading position as most favoured listing venue for companies from the UAE and across the region and fortifies Dubai’s position as an international financial hub," he added.-TradeArabia News Service