Chinese firms to seek Dubai listings

12 October 2008
China Security & Surveillance Technology (CSST) will list on the Dubai International Financial Exchange (DIFX) on 13 October, in a move considered to be the first in wave of dual-listings in the region by firms from the Far East.

Robert McMillen, chair of MAC Capital, which worked with CSST on the listing, says he is already having talks with other businesses in China and Japan who are exploring listing in Dubai.

Terence Yap, vice chairman and chief financial officer at CSST adds: “Our listing here has created a lot of talk in China. After we were the first Chinese company to list on the New York Stock Exchange a lot of other Chinese companies did the same. We expect that to be repeated in the Dubai market.”

The firm says it is pursuing the DIFX listing as part of its plans to build its brand in the Middle East. Yap adds: “We have not come to Dubai just to raise funding, we’re here to raise our profile.” He added that the company was already in discussions about supplying its products for use in city-wide security systems in the Middle East.

Because of this, he said he was not concerned about launching the firm’s listing in the middle of a financial crisis, because he says: “We plan to be in the region for the long term, and we believe the DIFX will become the region’s strongest exchange.”

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