The UAE can become the listings and equities trading hub for the Middle East by “aggressively” reaching out to entice companies in other territories, particularly in Africa, to list on the country’s bourses, according to Mark Mobius, the executive chairman of investment firm Templeton Emerging Markets Group.
“There are a lot of companies–you name the country–looking for capital,” said Mobius. “The UAE is the capital centre and there is a lot of money here”. One particular geography where the UAE should make exhaustive efforts to attract listings is Africa, said Mobius, with the region increasingly becoming more appealing to global investors seeking opportunities in businesses with good fundamentals.
“In order to get exposure to Africa, we often go for London listings. There’s no reason why the UAE can’t have a financial centre here that could attract African listings”, he said. “What they’ve got to do is to go out and solicit, they’ve got to get investment banks here to go out aggresively to get businesses from other parts of the world”.
Source Credit: The National
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