Tecom Group to list on Dubai Financial Market

The Dubai government has confirmed that Tecom Group will list on the Dubai Financial Market (DFM).

Tecom has 10 business communities that offer a ready infrastructure, industry friendly regulations and an extended support network to help businesses set up their operations.

Tecom’s business communities include Dubai Internet City, Dubai Media City, Dubai Design District and Dubai Industrial Park.

The listing is a part of the strategy of the Dubai Securities and Exchange Higher Committee, chaired by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, to increase the size of the stock market in the emirate to Dhs3 trillion in the coming period.

تنفيذاً لتوجيهات محمد بن راشد.. مكتوم بن محمد يعلن عن إدراج مجموعة "تيكوم" في سوق #دبي المالي، وذلك ضمن خطط اللجنة العليا لتطوير أسواق المال والبورصات في دبي، وفي إطار سعيها إلى مضاعفة قيمة الأسواق المالية في الإمارة إلى 3 تريليونات درهم خلال المرحلة المقبلة. pic.twitter.com/ata6D91Koo

— Dubai Media Office (@DXBMediaOffice) December 7, 2021

In November, Dubai has announced the listing of 10 government and state-owned companies on the DFM as part of accelerating new listings in various sectors including energy, logistics and retail.

Read: Dubai announces listing of 10 govt, state-owned companies on DFM

Shortly thereafter it announced that it would list utility Dubai Electricity and Water Authority (DEWA) in the “coming months”.

Read also: Dubai announces plans to list utility DEWA in the ‘coming months’

Also, the Dubai Securities and Exchange Higher Committee announced its intention to list the city’s toll road system, Salik, on DFM last month.

Read more: Plans unveiled to list Salik road toll system on Dubai Financial Market

The Salik system is one of Dubai’s leading infrastructure assets, and was introduced by the Roads and Transport Authority in 2007.