New Decree on Listing of Joint Stock Companies Encourages New IPO Launches

  • Date: 30-Jan-2021
  • Source: Dubai Chronicle
  • Sector:Financial Markets
  • Country:UAE
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New Decree on Listing of Joint Stock Companies Encourages New IPO Launches

In his capacity as Ruler of Dubai, Vice President and Prime Minister of the UAE His Highness Sheikh Mohammed bin Rashid Al Maktoum issued Decree No.3 of 2021 on the listing of joint stock companies in securities exchanges in Dubai.

According to the Decree, and subject to current federal regulations, all local public joint stock companies established in Dubai, including those set up in special economic zones or free zones including the Dubai International Financial Centre (DIFC), should list their stocks in local securities exchanges including Dubai Financial Market (DFM) and Nasdaq Dubai.

Licenced private joint stock companies can go public in local stock markets after ensuring compliance with local listing requirements and regulations. Companies listed in local markets can also have secondary listings in other markets.

Foreign companies established and licenced outside the country with branches, assets and activities in Dubai can list their shares in local markets as either a primary or secondary listing, according to the rules and regulations of the local securities exchange.





According to the Decree, non-local companies should list their