Listing Conditions


Listing Conditions Article (6) of the Authority Listing By-Law

Listing securities of locally incorporated public joint-stock companies for trading in the Market shall be subject to the following conditions:

• The company, issuing the securities, should be fully compliant with the provisions of Federal Law No-8 of 1984 Regarding Commercial Companies and amendments thereto.
• The company should have incorporated for not less than two years with financial statements issued for each year, audited by an auditor registered in the schedule of working auditors and authorized to audit accounts of joint-stock companies.
• The paid up capital may not be less than 50% of the stockholders? equity, which may not be less than AED 20 million.
• The shareholders rights , for each category of shares the company issues, shall be equal.
• The shareholders? equity should not be less than the paid up capital at the time of submission of the listing application.
• The company must prove to have held an ordinary general meeting at least once a year.
• The company shall be bound to publish its balance sheet and financial results in the daily media before its shares can be traded in the Market.
• Any other conditions that the Board imposes from time to time.

Listing Conditions For Foreign Companies

Listing of securities of foreign companies for trading in Abu Dhabi Securities Exchange shall be subject to the following conditions:

• The company must submit an application for listing signed by a person or entity authorized to sign on behalf of the company.
• The company must be in compliance with all relevant laws of its country of incorporation.
• The company must be a public joint-stock company.
• The company must already be listed on the stock exchange(s) of its home country and that such stock exchange(s) are subject to a regulatory authority exercising jurisdictions similar to those of the UAE Securities and Commodities Authority .
• The company should have been incorporated for at least two years and must have issued two balance sheets audited by an approved audit firm.
• The company?s capital must exceed AED 40 million and the number of its shareholders should not be less than 100.
• The company?s net assets must not be less than 20% of its paid-up capital and should have realized net profit which can be distributed to its shareholders at a minimum average of 5% of the paid-up capital, during the two years prior to the submission of the listing application.
• The company must prove to have held an ordinary general meeting at least once a year.
• The company or its country of incorporation should not have any absolute restrictions on transfer of stocks amongst dealers other than its citizens. Specific restrictions, if any, should be clearly indicated.
• The company must provide evidence of publication of its balance sheet and financial results in daily newspapers before its shares can be traded in the Market.
• The company must appoint a local representative in the UAE to handle matters related to share registry, dividend distribution, receipt and submission of reports related to the company?s business.
• Any other conditions the Board imposes from time to time. .