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Dubai to launch 'Nasdaq' market for emerging firms, SMEs

·1 min read

DUBAI, Oct 27 (Reuters) - Dubai plans to launch a "Nasdaq Dubai Growth Market" to help emerging companies, and small and medium enterprises (SMEs) attract investors and finance their projects, crown prince of the emirate, Sheikh Hamdan bin Mohammed bin Rashid al- Maktoum, said on Twitter on Tuesday.

The Nasdaq Dubai Growth Market will allow SMEs to list if they are valued below $250 million, with a minimum operating history of one year, compared to three years for Nasdaq Dubai's main market, the Dubai Media Office said.

Nasdaq Dubai is collaborating with government bodies, UAE free zones and expert advisory companies as partners to launch the growth market in early 2021, it said.

(Reporting by Saeed Azhar; editing by Jason Neely)