MAC's arrival opens a new gateway for regional and international investors to reach the region's rapidly growing international stock exchange.
MAC is the flagship of the MAC Group, a global collaboration of financial institutions and prominent business people. The MAC Group has already developed a reputation as a specialist in mid-tier cross border transactions, as a leader in U.A.E. equity research and as a prominent equity broker on all U.A.E. markets.
Robert W. McMillen, Chairman and Chief Executive Officer of the MAC group, commented: "We are thrilled to be invited to become a part of the success of the DIFX and our new membership enables us to provide our clients with a full suite of financial services. Our Category 2 Licence within the Dubai International Financial Centre (DIFC) allows us to assist clients in the public markets through listings, public offerings, and underwriting; and in the secondary market through fundamental and technical research, and securities brokerage.
"We are one of a handful of brokers that has direct access to the three UAE exchanges. The DIFX itself has generated considerable interest with the listing of DP World in November last year. We expect a number of high-quality primary and secondary listings to follow on the DIFX and would like to build on this momentum. We have already witnessed a rapid growth in interest from local and international investors alike."
Per E. Larsson, Chief Executive of the DIFX, said: "MAC Capital's arrival on the DIFX provides further impetus for the exchange in its exciting growth as the region's international listing platform. Through MAC Capital, investors in the UAE, the region and internationally can easily trade the expanding range of securities on the DIFX.
"As well the equities and structured products listed currently, the DIFX is preparing to list new asset classes such as exchange-traded funds and *derivatives to radically widen the range of investment opportunities."
MAC has joined the DIFX as a Trading Member.
Gerhard Hametner, Director of MAC, commented: "MAC has a focus on cross-border transaction flows and we have seen a tremendous interest from our foreign clients who wish to raise capital from investors in the Middle East and to issue secondary listings on the DIFX.
Despite the recent market turmoil, the fundamental growth characteristics of companies in the Middle East remain strong and our global institutional and individual investors have recognized this opportunity and have already begun to access the UAE markets. As much as the Middle East will be a source of global capital in the near term, stocks in countries like the UAE will also be a source of diversification and growth for global investors."
Hamed Ali, Executive Officer of the DIFX, said: "From its base in the DIFC, MAC Capital is well placed to participate in the dynamic growth and innovation taking place in the region's capital markets, notably on the DIFX as the international financial exchange serving the region.
"MAC Capital is the seventh company in the UAE to join the Exchange and we look forward to welcoming many more."
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MAC Capital becomes a trading member of the DIFX, opens new gateway to exchange
- United Arab Emirates: Monday, January 28 - 2008 at 13:00
- PRESS RELEASE
The Dubai International Financial Exchange (DIFX) today welcomed MAC Capital Limited (MAC) as its newest Member firm able to trade shares and other securities.
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Notes and media contacts
*subject to regulatory approvalPRESS CONTACTS:
Mr. Robert W. McMillen
Chairman
MAC Capital Limited
Suite 115, Building 4
Gold & Diamond Park
Interchange 4, Sheikh Zayed Road
P.O. Box 122723
Dubai, U.A.E.
Tel: +971-4-409-7170
Fax: +971-4-409-7270
Ms. Lalida Rojanavasee
Director: Investment Banking
MAC Capital Limited
Suite 115, Building 4
Gold & Diamond Park
Interchange 4, Sheikh Zayed Road
P.O. Box 122723
Dubai, U.A.E.
Tel: +971-4-409 7175
Fax: +971-4-409 7275
Mr. Gerhard Hametner
Director: Business Development
MAC Capital Limited
Suite 115, Building 4
Gold & Diamond Park
Interchange 4, Sheikh Zayed Road
P.O. Box 122723
Dubai, U.A.E.
Tel: +971-4-409-7177
Fax: +971-4-409 7277
MAC Capital Limited is regulated by the Dubai Financial Services Authority and is a member of the Dubai International Financial Exchange (the "DIFX").
MAC is a wholly-owned subsidiary of McMillen Advantage Capital Limited (MACL). MACL's shareholders include international stock brokers, private funds and private banks such as:
Quam Securities Co., Ltd. Hong Kong
Killik & Co.United Kingdom
Syrus Securities Plc. Thailand
Bank Morval Switzerland
Capital Partners Securities Co., Ltd. Japan
Lloyd Edward-Jones France
and a number of prominent international businessmen.
MACL's subsidiary in Dubai, MAC Sharaf Securities (U.A.E.) LLC, is a fully licenced stock broker on the Dubai Financial Market ("DFM") and the Abu Dhabi Securities Market ("ADSM"). MACL's
Dubai-based partners are the Sharaf Group and Major General Mohammed Abdul Rahim Al Ali.
About DIFX
The DIFX is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as international issuers that seek regional and international investment.
The exchange opened in September 2005 and currently has 21 Members - ABN AMRO, Arbuthnot Securities, Barclays Capital, Citigroup, Credit Suisse, Daman Securities International, Deutsche Bank, EFG-Hermes, Gulf National Securities Centre International, Hichens, Harrison & Co, HSBC, ING Bank NV, Jefferies International, KAS BANK, MAC Capital, Morgan Stanley, Merrill Lynch, Mashreq Capital (DIFC), NBD Investment Bank, SHUAA Capital and UBS.
Issuers on the DIFX: Equities - Albaraka Banking Group (ordinary shares), Boulder Steel (ordinary shares), DP World (ordinary shares), Citigold Corporation (ordinary shares), Fortune Management (ordinary shares), Gold Fields (American depositary shares), Hikma Pharmaceuticals (global depositary receipts), Kingdom Hotel Investments (ordinary shares), Man Industries (India) (global depositary receipts), Monarch Gold Mining Company (ordinary shares), Rana Sugars (global depositary receipts); Sphere Investments (ordinary shares); Unigold Inc (ordinary shares); Bonds - DP World (Medium Term Notes), Dubai Holding Commercial Operations Group (Medium Term Notes), Kuwait Financial Centre S.A.K. (Closed) (Notes); MashreqBank (Medium Term Notes), National Bank of Dubai (Medium Term Notes); Islamic Products - Aabar Sukuk (Sukuk), Cherating Capital (Sukuk), DAAR International Sukuk (Sukuk), Dar Al Arkan International Sukuk (Sukuk), DIB Sukuk (Sukuk), DIFC Investments (Sukuk), Dubai World Sukuk (Sukuk), IIG Funding Ltd (Sukuk), JAFZ Sukuk (Sukuk), Nakheel Development (Sukuk), Nakheel Development 2 (Sukuk), Ports, Customs and Free Zone Corporation (Sukuk), RAKIA Sukuk Company (Sukuk), TID Global Sukuk (Sukuk); Structured Products - Deutsche Bank, Merrill Lynch, Morgan Stanley
The regulator of the DIFX is the Dubai Financial Services Authority. The DIFX is owned by Borse Dubai Limited, a holding company which also owns the Dubai Financial Market. The DIFX is located in the Dubai International Financial Centre.
www.difx.ae
Mark Fisher
Head of Corporate Communications - Vice President
Dubai International Financial Exchange Ltd.
Level 7, The Exchange Building, Gate District
Dubai International Financial Centre
P.O. Box 53536, Dubai, UAE
Direct: +971 4 361 2220
Switchboard: +971 4 361 2222
Fax: +971 4 361 2130/2131
Posted by Lara Lynn Golden, News EditorMonday, January 28 - 2008 at 13:00 UAE local time (GMT+4)
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