Farayand Virtual World

* DIFX Plans to Introduce Dubai Depository Receipts

This will help companies outside the UAE to list on the exchange

DIFX, the regional securities market begin set up within the Dubai International Financial Centre (DIFC), is planning to introduce the concept of Dubai depository receipts (DDRs).

DDRs are likely be tailored along the lines of American depository receipts (ADRs) or global depository receipts (GDRs) which are issued by well established markets such as those in New York, London and Luxembourg.

The companies that will be attracted, can structure tranches of their stocks into bundles and can be issued in the form of DDRs denominated in dollars, since all the transactions within the DIFC will be in dollars.

(Source : Gulf News)