Monday March 10 2025

News Source: Global Exchanges

Focus: Listing Rules

Type: General

Country: Dubai

Link: https://tinyurl.com/3mxdzphw




The Dubai Financial Market (DFM) issued an amendment to Articles 2.21 and 2.22 of Section 2 Shares – Module Two – Listing Rules.

2.21 Listing on the Main Market:

The Shares of the following companies are listed in the Market:

  • a Public Joint Stock Company; and
  • a Foreign Company that takes an equivalent form to that of a Public Joint Stock Company; and
  • a Free Zone company that that takes an equivalent form to that of a Public Joint Stock Company.

Category One: The following conditions must be met for the company’s Shares to be listed under Category One on the Main Market, as set forth in paragraph (a) of this Rule:

  • the share capital of company is fully paid up; or
  • the number of shareholders in the company is not less than 100; or
  • the Free Float Shares of the company is not less than 20% of its share capital,
  • the company’s net shareholders’ equity must not be less than 100% of its paid-up capital provided that the Market may disregard Rule 2.21(b)(iii) if:

(A) the share capital of the company is not less than AED 500 million; and

(B) the Market deems the number of Shares available for trading to represent a reasonably sufficient number for trading; and

(C) the company meets the other requirements of these Listing Rules.

Subject to paragraph (b) of this Rule, governmental companies that are Public Joint Stock Companies and whose shares are offered for public subscription shall be listed under Category One.

Category Two: The company is listed under this category if it does not meet one or more of the requirements for Category One at the time of listing.

2.22 Moving between listing categories:

  1. After listing, a company will automatically be moved from Category One to Category Two if trading on its Shares is suspended for a period of six (6) months or more, or if its accumulated losses reach fifty percent (50%) or more of its capital according to the latest quarterly financial statements.
  2. A company will be moved from Category Two to Category One once it meets the listing requirements for Category One and its accumulated losses decrease to less than fifty percent (50%) of its capital according to the latest quarterly financial statements.
  3. The Market will announce the change in the company’s category on the Market’s website.

Click on the above link for further information