Dubai Launches Nasdaq Dubai Growth Market to Support SMEs
Dubai Launches Nasdaq Dubai Growth Market to Support SMEs
26 November 2020
Crown Prince of Dubai Chairman of Dubai Executive Council, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has launched the Nasdaq Dubai Growth Market, a new market under the umbrella of Nasdaq Dubai, aims to help young businesses and small and medium-sized companies (SMEs) achieve the next phase of their expansion by raising capital through an initial public offering (IPO).
The step falls under the framework of the Dubai Future District initiatives, which was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai as the largest specialized area in the region for creating the future economy by providing an investment, technical, legislative, service and incentive environment.
The district links Emirates Towers with the Dubai World Trade Centre and the Dubai International Financial Centre.
The Nasdaq Dubai Growth Market will enable fast-growing companies to achieve a streamlined and cost-effective listing on the region’s international exchange.
As part of the Dubai Future District project, the Growth Market will welcome not only companies in the UAE, but also list companies from around the world to help them expand in the region and internationally.
HH Sheikh Hamdan Bin Mohammed said that Dubai is keen to launch initiatives that will boost the economy locally, regionally or globally and stimulate growth across various sectors, while also creating an environment where businesses can prosper through forming partnerships and opportunities.
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