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The company intends at a later stage to issue ordinary shares on the DIFX as its primary listing.
Steffen Schubert, Chief Executive of the DIFX, said: "The listing of Investcom so soon after the opening of the DIFX demonstrates the market's unique appeal. As the only truly international exchange in its region, the DIFX gives issuers access to regional and international capital. The DIFX will bring international investment into regional securities on an unprecedented scale. By tapping into this investment, regional companies can obtain the capital they need to grow. By the end of 2006, we expect 10 to 15 IPOs listed by companies based across the region and beyond."
Azmi Mikati, Chief Executive of Investcom, said:
"We are delighted to be the first IPO on the DIFX. This market gives Investcom the right exposure in the region and beyond."
The DIFX opened for trading on September 26th, 2005. It will develop trading in a wide range of asset classes including equities, bonds, sukuks, and intends to add derivatives within its first year of operation. The DIFX market opened with the listing of five Deutsche Bank securities. These are index tracking certificates, which cover the US S&P 500, the German DAX 30, the Japanese Nikkei 225, the EuroStoxx 50 and the Stoxx 50.
It is the first exchange in its region that has been created to list securities from many different countries. It also aims to be the first to attract large numbers of international brokers, including some of the world's biggest investment banks. The DIFX is regulated to international standards by the Dubai Financial Services Authority.
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Posted by Lara Lynn Golden, News Editor
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