Dubai Financial Market Welcomes The Listing Of Egypt’s NAEEM Holding For Investment

Proshare

Sunday, March 25, 2018  11.56AM / DFM 

Highlights:

• H.E. Essa Kazim: “The first of its kind listing underlines the strong ties between the UAE and Egypt and the cooperation framework with the Egyptian institutions creates a solid foundation for similar steps in the future”

• Youssef El far- NAEEM Holding vice chairman and CEO: “ we are proud to be the first listed Egyptian company to be dually listed on DFM, we always believed in regional consolidation as the way forward, and tapping the DFM market complements our regional presence, increases the liquidity for ours share and maximises shareholders value”  

Dubai Financial Market (DFM) today announced the listing of NAEEM Holding for Investment, one of the leading investment companies in the Middle East and North Africa, 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. 

Mr. Youssef El far- NAEEM Holding’s Vice Chairman and CEO rang the market-opening bell in the presence of His Excellency Essa Kazim- Chairman of the DFM and Mr. Hussein Shobokshi, Chairman of NAEEM Holding as well as senior representatives from both sides. 

This listing further strengthens the prominent position of DFM as the most favored 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 this development, H.E. Essa 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 United Arab Emirates and the Arab Republic of 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. There are many leading companies listed on the DFM or the Egyptian Exchange that actively operate in both countries and represent 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.”

Mr. Hussein Shobokshi said: “As part of the management’s continuous endeavours to place NAEEM Holding among the top regional financial investment companies operating in the field of financial activities, and as part of NAEEM strategy to expand its clientele and shareholders’ base, the company has selected the United Arab Emirates for dual listing and trading of its shares in Dubai Financial Market (DFM). On behalf of NAEEM Holding, Mr. Youssef El far and I would like to extend our gratitude to the teams that made it possible for NAEEM to be here today, namely Dubai Financial Market (DFM), Securities & commodities authority (SCA) from the UAE side and Egyptian Stock Exchange (EGX), Financial Regulatory Authority (FRA) and Misr for Central Clearing Depositary and Registry (MCDR) from the Egyptian side  

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