⁍ Dubai plans to launch a ‘Nasdaq Dubai Growth Market’ to help emerging companies and small and medium enterprises (SMEs) attract investors and finance their projects.
⁍ The Nasdaq Dubai Growth Market will allow SMEs to list if they are valued below $250 million, with a minimum operating history of one year, compared to three years for Nasdaq Dubai’s main market.
– Starting in early 2021, small and medium enterprises in Dubai will be able to list on the Nasdaq Dubai Growth Market, the first such market in the United Arab Emirates, Reuters reports. According to a tweet from Sheikh Hamdan bin Mohammed bin Rashid al-Maktoum, crown prince of Dubai, the new market will help small and medium enterprises ( SMEs) in the emirate attract investors and finance their projects. The Nasdaq Dubai Growth Market will allow SMEs to list if they are valued below $250 million, with a minimum operating history of one year, compared to three years for Nasdaq Dubai’s main market. Nasdaq Dubai is collaborating with government bodies, UAE free zones, and expert advisory companies as partners to launch the growth market in early 2021, it said.
Source: https://www.reuters.com/article/emirates-dubai-nasdaq-int/dubai-to-launch-nasdaq-market-for-emerging-firms-smes-idUSKBN27C11R