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Saturday, November 14 - 2009

National International Holding Company debuts on Dubai Financial Market

  • United Arab Emirates: Monday, October 27 - 2008 at 14:55
  • PRESS RELEASE

Dubai Financial Market (DFM) today announced the listing of National International Holding Company (NIH), incorporated in Kuwait.

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  • (L-R) : Essa Kazim, Chairman of Dubai Financial Market; and Ali Al Baghli, Chairman of National International Holding Company at the listing of National International Holding Company  on DFM.
    (L-R) : Essa Kazim, Chairman of Dubai Financial Market; and Ali Al Baghli, Chairman of National International Holding Company at the listing of National International Holding Company on DFM.
Company shares began trading on Monday, October 27, 2008, under the trading symbol "NIH" within the Investment and Financial sector which will appear on DFM screens, trading systems and publications.

The listing of NIH brings the total number of securities listed on the DFM to 72, including 64 public shareholding companies, and also brings the number of Kuwaiti companies listed on DFM to 16.

Essa Kazim, Chairman of Dubai Financial Market; Ali Al Baghli, Chairman of National International Holding Company; and representatives from DFM, NIH and Global Investment House, which acted as listing advisor, attended the listing ceremony along with senior members of DFM and NIH Company.

Kazim welcomed the new listing as a vital addition to the suite of equity offerings available on the market. The listing further highlights the leading position of Dubai Financial Market as the preferred destination for outstanding local and regional companies seeking to list their shares.

Kazim said:
"Dubai Financial Market is constantly looking to expand and diversify the opportunities available to investors by encouraging and partnering with companies from around the region active in different sectors to benefit from trading on the UAE's leading stock exchange. Companies from across the region also look upon DFM as an attractive exchange with a proven track record of professionalism and state-of-the-art facilities. Due to the relatively high level of liquidity in the local market, companies are very eager to capitalise on their growth through a trading and fundraising window in the UAE. We are delighted to welcome the National International Holding Company to the DFM, which lists many Kuwaiti companies in line with its strategy of strengthening the exchange's position through diversification and expansion of options for investors."


Highlighting the significance of a listing on the DFM, Al Baghli said:
"The move to list on the DFM complements NIH's strategy of expanding locally and regionally, making it easier for investors to trade the company's shares in both Kuwait and the UAE, benefiting from the overall growth achieved by the company. This listing further extends the company's growth strategy, driven by the delivery of outstanding financial returns to shareholders and investors. This listing on the Dubai Financial Market comes after the success of the company's shares on the Kuwait Stock Exchange over the past year and is in line with the company's overall expansion in the Gulf. I would also stress that the choice of financial markets in the UAE and Dubai in particular, are based on the fact that DFM is currently the second largest market in the region in terms of market value."
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Notes and media contacts

About Dubai Financial Market:
Dubai Financial Market (DFM) was established as a public institution having its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20% of its paid-up capital of Dhs8b, DFM became a public joint stock company. Following the IPO, the Government of Dubai retained the remaining 80% of DFM Company.

About National International Holding Company:
NIH was founded in 1979 and has many income-generating projects within and outside Kuwait. The company is looking to invest a high level of resources in the Kuwaiti market and the GCC and also expand in the European and American markets across a variety of verticals, including real estate, industrial, and technology.

For further information, please contact:
Ghaleb Zeidan
ASDA'A Burson-Marsteller
Dubai, UAE
Tel: +971-4-3355969
Fax: +971-4-3344556

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