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Dubai Financial Market Welcomes the Listing of "Marka" - The first IPO-listing since 2009
Sep 25, 2014
Dubai Financial Market (DFM) today announced the listing of Marka (PJSC), as trading commenced on the company’s shares under the trading symbol “Marka”, which appears on DFM screens, trading system and publications within the Consumer Staples Sector. The successful listing of Marka further fortifies the prominent position of DFM as the most favored listing venue for leading local and regional companies and lifts the total number of listed companies to fifty-five.
It is noteworthy that Marka became the first IPO issuer to list on DFM since 2009 as well as the first issuer to utilize the DFM “eIPO” platform, a sophisticated and efficient solution for IPO subscription directly linked with the receiving banks.
 
His Excellency Essa Kazim, Chairman, Dubai Financial Market, His Excellency Jamal Al Hai, Chairman, Marka (PJSC), and senior representatives from both sides attended the listing ceremony at DFM’s trading floor.
 
Commenting on this development, HE/ Essa Kazim said: “We are delighted to welcome the listing of Marka on DFM, which  heralds a new era of thriving IPO activity  and represents an initial success for  DFM’s constant efforts to encourage private and family businesses to go public and list on the exchange. This listing is an invaluable addition to the market as it enables investors to benefit from the growth of the Trade sector, which is one of the key sectors that drives Dubai’s economy, with approximately 30% of the Emirate’s GDP. Having companies representing the trade sector on board  will further boost DFM’s efforts to achieve one of its strategic objectives, which is to fully reflect the most important sectors of the economy by attracting companies from  major and fast growing sectors including Retail, Tourism, Heath and Education. We also provide support for these companies to achieve their growth strategy by benefiting from the capital markets. Since DFM was established, it has been efficiently playing this role for companies representing various sectors including Real Estate, Banking, Transportation and Telecommunication.”
 
“Over the past years, DFM has been tirelessly promoting awareness of the benefits of going public through organizing forums and seminars as well as publishing practical guides addressing the requirements and key steps to implement this strategic decision, as the next milestone in the journey of private and family businesses. We have actively communicated with hundreds of companies through one-on-one meetings to further support managements’ efforts to prepare their companies for the post-IPO requirements including transparency and disclosure commitments; having an effective investor relations function; and having a proper corporate governance structure. Moreover, DFM has developed a range of post-listing value-added services over the past years to enable issuers to effectively communicate with its investors as well as other market participants. We believe that the outlook for IPO activity overall is positive in view of the substantial list of companies that are ready to take this route. Perhaps the first indication that supports this belief is the successful issuance and listing of Marka shares and the preparations for the IPO of EMAAR Malls in the coming period,” HE/ Essa Kazim added.
 
H.E. Jamal Al Hai, Chairman of Marka’s Board of Directors, commented, “Today is an historic milestone for Marka, and on behalf of Marka and the Board of Directors, I would like to extend our sincere thanks to H.E. Essa Kazim and the Dubai Financial Market for the ongoing support exercised throughout Marka’s IPO and listing process. We would also like to thank the Securities and Commodities Authority for their cooperation and support in all phases of the founding of the company and the inclusion of its shares for trading.”
H.E. Al Hai continued stating: “We are proud and honoured to be the first retail and hospitality focused company on the DFM. Marka is committed to generating long term value for our shareholders, our partners and our community and are glad to offer our investors the opportunity to benefit from one of the fastest growing sectors in the UAE.”

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