Unigold Is First North American Firm to List in Dubai
Unigold Inc., the Canadian gold miner, became the first North American company to list its shares on the Dubai International Financial Exchange, a day after port operator DP World said it will use the bourse for its IPO.
Toronto-based Unigold's shares trade on the TSX Venture Exchange and are now also tradable on the Dubai bourse through an electronic settlement link, the Dubai International Financial Exchange, or DIFX, said in an e-mailed statement today.
``Unigold's exploration in the Dominican Republic is yielding exciting gold prospects and this is an appropriate time to raise our profile with investors in the DIFX's region,'' Unigold President Ibrahim Eitani said in the statement. ``We are also preparing to carry out activities in Saudi Arabia.''
State-owned DP World yesterday said it will sell about 20 percent of its equity next month and then list on the DIFX. The DIFX, opened in 2005, became the Persian Gulf's first bourse available to issuers and investors of any nationality.
The electronic bourse has since added share trading in seven companies, including Australia-based Monarch Gold Mining Co. and Citigold Corp.
Unigold last traded in Toronto at 68 Canadian cents Oct. 19, valuing the company at C$58 million ($59 million). The shares have gained 24 percent this year. Source
Toronto-based Unigold's shares trade on the TSX Venture Exchange and are now also tradable on the Dubai bourse through an electronic settlement link, the Dubai International Financial Exchange, or DIFX, said in an e-mailed statement today.
``Unigold's exploration in the Dominican Republic is yielding exciting gold prospects and this is an appropriate time to raise our profile with investors in the DIFX's region,'' Unigold President Ibrahim Eitani said in the statement. ``We are also preparing to carry out activities in Saudi Arabia.''
State-owned DP World yesterday said it will sell about 20 percent of its equity next month and then list on the DIFX. The DIFX, opened in 2005, became the Persian Gulf's first bourse available to issuers and investors of any nationality.
The electronic bourse has since added share trading in seven companies, including Australia-based Monarch Gold Mining Co. and Citigold Corp.
Unigold last traded in Toronto at 68 Canadian cents Oct. 19, valuing the company at C$58 million ($59 million). The shares have gained 24 percent this year. Source
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