Dubai announces listing of 10 govt, state-owned companies on DFM

Dubai announces listing of 10 govt, state-owned companies on DFM

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, has announced the listing of 10 government and state-owned companies on the Dubai Financial Market (DFM). The move is part of accelerating new listings in various sectors including energy, logistics and retail. Sheikh Maktoum also announced the formation of a Dubai Markets Supervisory Committee and specialised courts for capital markets in the emirate. The Dubai Markets Supervisory Committee, chaired by Dr. Abdulla Al Ghafari, will be responsible for supervising, monitoring and protecting the rights of shareholders and investors, and enhancing transparency and enforcement in Dubai’s securities and commodities markets through coordination between relevant stakeholders. The emirate aims to increase the total volume of its stock markets to Dhs3 trillion, he said. The announcements came during the first meeting of the Securities and Exchange Higher Committee chaired by Sheikh Maktoum and attended by several dignitaries. The committee approved the establishment of a market making fund worth up to Dhs2bn to increase liquidity in the markets and will also launch an Dhs1bn fund to support tech company IPOs and encourage innovative financial products and solutions. Furthermore, the committee will mandate