The Dubai Financial Market (DFM) has announced the listing of International Investment Group Company, incorporated in Kuwait.

Company shares began trading on Sunday under the trading symbol “IIG,” which will appear on DFM screens, trading systems and publications.

The listing of ordinary shares of International Investment Group Company was finalised and approved by the DFM in collaboration with the Emirates Securities and Commodities Authority.

Ownership of the company’s shares is available to Kuwaiti nationals up to 100 per cent, while GCC nationals and foreigners are allowed to own company shares at a maximum of 49 per cent.

The company’s authorised capital is KD33.21 million while its paid-up capital is KD31.81 million. The company has issued 332.14 million shares, with each share valued at a par value KD100 Fils.

Essa Kazim, chairman of DFM, said: “International Investment Group Company is the 54th to list its shares on the DFM. We welcome them to our bourse, and look forward to a prosperous future together. We hope that this listing enhances the activity of DFM’s investment sector. DFM’s strategy is based on offering diversified investment options to investors, and today’s listing comes in line with this strategy.”

Sami Bader Al-Jinaie, chairman & managing Director of International Investment Group Company expressed his gratitude to be associated with the Dubai Financial Market. “We are glad that our strong family of shareholders will now be able to trade their shares on the DFM, one of the region’s leading stock exchanges. With strong fundamentals and aggressive expansion plans that will enhance shareholder value year-on-year, the company aims to take the company to greater heights and a must-have for investors.

The company’s total revenue reached KD32.5 million by end of 2006, while total assets reached KD154.2 million by end of 2006.-TradeArabia News Service