A joint stock exchange that would list high-tech stocks is currently being discussed by the Dubai Financial Market and the stock exchanges in Bahrain and Amman, reported the Jordan Times. The joint tech market could be launched within nine to 12 months.
Speaking to the Gulf News, a market source suggested that the new entity could be a precursor to a regional common market—and as for the companies listed on it—their presence could pave the way for an eventual listing on New York’s NASDAQ.
One of the reasons that the three bourses are able to discuss a common trading floor is the fact that they all use the same computer system. Reportedly, the Saudi Arabian, Qatar and Kuwaiti bourses are also considering implementing the same system.
In a statement issued in Amman, int@j, Jordan's IT professionals' association said that the future stock exchange would help raise capital for the IT industry, provide easy exit mechanisms and attract more venture capitalists by offering a diverse investor base and higher liquidity. – (Albawaba-MEBG)
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