Nasdaq Dubai has signed an agreement with Hong Kong-based Zhongtai Financial International and Tian Tai, a Beijing-based law firm, to help include interested Chinese companies in Middle East’s international financial exchange.
According to a statement from the agreement on Wednesday, the initiative will guide Chinese companies to carry out initial public offerings on Nasdaq Dubai along with funds, real estate investment trusts, list bonds, and other services.
Chief executive of Nasdaq Dubai, Hamed Ali welcomed Chinese companies that seek both regional as well as international investment for their businesses to get high global visibility as they expand; the exchange improving close relationship between China and the UAE.
Valued at $11.3 billion, the agreement has hosted 19 debt issuances from Chinese companies since 2014, which includes two China Construction Bank-listed bonds adding $1.2 billion in August 2020 and two bonds worth $1 billion listed by the Industrial and Commercial Bank of China in October last year.
With its investor base spreading across 100 countries, Nasdaq Dubai is a multi-currency exchange; the biggest exchange in the Middle East for US-dollar denominated debt listings worth $82 billion. Along with that, it has also hosted listings for sterling, euros, and renminbi.
