Question 1

What are the requirements for listing a company on the DFM?

Accepted Answer

DFM listing requires SCA approval of a prospectus, minimum free float requirements, financial track record (typically 3 years of audited accounts), minimum capital thresholds, corporate governance compliance and appointment of a listing advisor. The process from initiation to listing typically takes 6–18 months. We advise on the full IPO process and manage the regulatory submissions.

Question 2

What is the difference between SCA and DFSA regulation?

Accepted Answer

The SCA (Securities and Commodities Authority) regulates all securities and commodities markets and activities in onshore UAE, including DFM and ADX. The DFSA (Dubai Financial Services Authority) is the independent regulator of financial services conducted within the DIFC. Companies operating in both jurisdictions may need dual regulatory compliance. We advise on both regulatory frameworks.

Question 3

What is a sukuk and how is it structured?

Accepted Answer

A sukuk is an Islamic financial instrument that represents proportional ownership in a pool of assets or an underlying transaction — designed to comply with Sharia prohibition on interest (riba). Common sukuk structures include Ijara (lease-based), Murabaha (cost-plus), Musharaka (partnership) and Mudaraba (profit-sharing). We advise on sukuk structuring, documentation and Sharia compliance review in conjunction with approved Sharia scholars.

Question 4

What ongoing disclosure obligations does a UAE listed company have?

Accepted Answer

SCA-listed companies must disclose: financial results (quarterly and annual), material events and transactions, major shareholding changes above thresholds, related party transactions, board changes, dividend announcements and any information that could affect share price. DFSA-regulated entities have equivalent obligations under DFSA Market Rules. We advise on the specific disclosure obligations applicable to each client's regulatory status.

Question 5

Can a foreign company list on the DFM or ADX?

Accepted Answer

Yes. Foreign companies (particularly GCC and Arab world companies) can seek a secondary listing on the DFM or ADX. Requirements include compliance with the home market listing obligations and SCA approval of a supplementary prospectus. We advise on the requirements and process for cross-listing in the UAE.

کیپیٹل مارکیٹس دبئی میں۔

دبئی اور UAE میں کیپیٹل مارکیٹس قانونی خدمات

ریگولیٹری فریم ورک

سکوک ڈھانچہ سازی

پبلک آفرنگز اور لسٹنگ

پرائیویٹ پلیسمنٹس

Frequently Asked Questions

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