NetSol to list on DIFX
Posted on Jun 08, 2008 09:12 PM -0400
NetSol to Dual List on the Dubai International Financial Exchange (DIFX)
LAHORE: NetSol Technologies Inc. ("NetSol") (NASDAQ: NTWK), announced it has received approval to become dual-listed for trading on the Dubai International Financial Exchange (DIFX).
Pending finalization with the DIFX, NetSol will commence trading on the DIFX under the symbol NTWK, complementing the Company\'s current NASDAQ listing where its common shares have traded since 1998.
The DIFX is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as international issuers that seek regional and international investment. The exchange currently lists shares, structured products, Sukuk (Islamic bonds) and conventional bonds.
NetSol plans to expand its business in the fast growing UAE market and the broader gulf region by introducing its enterprise solutions and services, supported by our plan to establish an office in Dubai in order to best leverage these new growth opportunities. NetSol has recently announced its first major client win in the Middle East, and its goal is to become a market leader in lease and asset-based financial software as well as a major provider of Global Business Services in this key region.
"The approval of NetSol common shares to list for trading on the Dubai International Financial Exchange reflects the further globalization of our business and serves as an excellent complement to the existing trading liquidity of our shares on NASDAQ," said Mr. Salim Ghauri, President NetSol Technologies Inc, adding: “NetSol Technologies Ltd will equally be benefited with the opening up of new door in a very lucrative market of GCC countries.”
"Being the first U.S.-listed company to go live with a dual listing on the DIFX will help broaden our investor base within this dynamic region, as well as increase our brand visibility within the international markets. The secondary listing of NetSol on the DIFX will bear similar reporting and disclosures requirements as in the United States,” he added.
