TECOM latest to be listed on Dubai Financial Market

KARIM SAHIB / AFP

The Dubai Media Office announced an initial public offering of business park operator TECOM Group on the local stock exchange.

The listing is part of plans to increase the size of the Dubai Financial Market to AED 3 trillion.

Formerly known as TECOM Investments, TECOM Group, which is a part of Dubai Holding, has a portfolio of 10 business parks where around 6,500 businesses employ a total workforce of 95,000.

The Dubai government last month announced plans to list 10 state-backed companies on its stock market as part of plans to boost activity on the local bourse.

It also said it plans to set up a AED 2 billion market maker fund to encourage more private companies to list.

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