Nasdaq and OMX companies encouraged to list on DIFX

24 November 2007

Companies trading shares on the US' Nasdaq and Nordic stock exchange OMX will be encouraged to also list their shares on the Dubai International Financial Exchange (DIFX), says Per Larsson, chief executive officer of Borse Dubai.

Any listings would follow the completion of a deal between Borse Dubai and Nasdaq to acquire OMX. Until now, it has been unclear whether companies would be encouraged to list their shares across the new group.

Companies on the exchanges include global heavyweights such as Nokia and Saab on OMX, and Microsoft and Intel on Nasdaq.

“We assume there will be interest in trading stocks listed on Nasdaq and OMX and we will support dual listings,” says Larsson. “This will be issuer-driven.”

Borse Dubai, the holding company for the DIFX and the local Dubai Financial Market, is seeking to buy OMX as part of share swap with Nasdaq. The transaction should be completed in early 2008.

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