JAFZA WINS DUBAI QUALITY AWARD - Jebel Ali Free Zone

PAGE 4EZW, NASDAQ Dubai to collaborateMove to boost capital market access for Jafza companies, facilitating integrated offeringsSalma Hareb, CEO, Economic Zones World, Essa Kazim, Managing Director, and CEO of DFM, Jeff Singer, Chief Executive Officer of NASDAQ Dubai, Talal Al Hashimi, MD, EZW-UAE Region, Ibrahim Al Janahi,Deputy CEO Jafza and CCO and Fahima Al Bastaki, SVP and Head, Business Development Division, DFM after MoU signingEconomic Zones World and NASDAQ Dubai haveentered into an agreement paving the way to provideequity financing opportunities for companiesbased in Jafza. The agreement supports the DubaiGovernment’s strategic objective of promotinga favourable environment for the growth ofinternational and regional companies and providingthem with convenient access to capital markets tofund their development.Under the agreement both parties have agreed toidentify companies based in Jafza that may benefitfrom carrying out an initial public offering (IPO) on theDubai exchange. Jafza will work closely with NASDAQDubai to provide companies with information andsupport and jointly host workshops and training tosupport listing plans by suitable companies.The collaboration is expected to boost Jafza’s existinginvestment framework that provides clients withworld-class facilities as well as innovative productsand services, and now, a variety of options thatprovide them with access to funds. In addition toraising capital to finance growth, a company inJafza can enhance and sustain its business standingby meeting the exchange’s international listingstandards. As part of efforts to create a holisticframework, Jafza also plans to explore new debtfinancing options and instruments for its clients inthe near future.The agreement was made through a memorandumof understanding (MoU) signed by Salma Hareb andJeff Singer, Chief Executive of NASDAQ Dubai, in thepresence of Essa Kazim, Managing Director and ChiefExecutive of DFM, Talal Al Hashimi, Managing Director,UAE Region, Economic Zones World and Ibrahim AlJanahi, Deputy CEO Jafza and CCO.Salma Hareb, commenting on the collaborativeinitiative, said: “Convenient access to capital andfinancing options are of paramount importance toour customers. We consistently aim to provide optimalsolutions and facilities that ultimately enable ourcustomers to grow successfully. This agreementwith a reputable national financial body reaffirmsthis objective. Moreover, as Dubai entities, NASDAQDubai and Jafza seek to leverage each other’sstrengths to achieve Dubai’s economic objectives.”Jeff Singer said: “Jafza hosts many of the region’smost dynamic enterprises and NASDAQ Dubai isexcited to be working with EZW to promote listingopportunities for them. The exchange offers companyowners the opportunity to sell shares at market valuethrough a book build IPO, with active trading on aliquid platform used by 77 companies listed on DubaiFinancial Market (DFM) as well as NASDAQ Dubai.We look forward to discussing IPO possibilities withsmall and medium-sized enterprises in Jafza as wellas larger companies, including subsidiaries offoreign entities.”Benefits for Jafza companies will include formalbriefings on eligibility requirements for listing as wellas the procedures involved that enable companiesto comply with NASDAQ’s global standards.Furthermore the collaboration with the exchangeensures sustainability for companies in the free zoneparticularly the smaller investors and SMEs.NASDAQ Dubai published proposed changes to itslisting rules in January 2011, aimed at increasingliquidity on the exchange and attracting smalland medium-sized enterprises, including familycompanies. The exchange is currently consultingmarket participants about the proposed changes.Earlier this year, as part of its holistic efforts toprovide an integrated offering to its customers,including multiple options on funding, EZW alsosigned a memorandum of understanding with theDubai International Financial Centre Authority (”DIFCAuthority”) on identifying and developing productsthat will enhance financing services offered tocompanies based in Jafza. The MoU confirms theparties’ joint commitment to Dubai’s economicdevelopment and remains in line with a directive bythe Government of Dubai for enhanced partnershipand cooperation between Government bodies andorganizations.According to the MoU, EZW and DIFC Authority willwork together to explore and develop a mechanismfor inventory financing for Jafza customers. Thedesign and development of a legal and regulatoryframework and procedures in which to operate thesystem were also covered in the agreement.