DFM holds workshop in Kuwait to update Dual-listing companies on electronic disclosure system and depositary services

Tuesday 22 December 2015

Dubai - MENA Herald: Dubai Financial Market (DFM) organized a workshop in Kuwait with the participation of 11 dual listing companies, as part of the exchange’s commitment to constantly outreach and further strengthen the relationship with the listed companies as well as updating them on its issuer services.

The workshop has focused on the main features and benefits of the online disclosure solution ‘Efsah’, a secure and sophisticated web-based application that DFM has developed enabling listed companies to publish their disclosures swiftly and effectively. Through a user name and password, listed companies’ disclosure team can create and distribute regulatory disclosures immediately by completing a standard template online in both Arabic and English, and submitting along with the relevant documents in various formats. Once the disclosure delivered, the DFM Disclosure Department promptly reviews from a procedural and content perspectives and publishes on DFM website within few minutes.

The disclosure system enabled listed companies to efficiently connect with investors and further enhanced transparency levels, as DFM-listed companies regularly achieve 100% compliance in disclosing quarterly and annual financial results during most of the disclosure periods. This solution represents a significant leap in comparison to the traditional way of submitting disclosures through fax or email.

The workshop also included an update about DFM’s depository services such as; share book management, electronic connectivity with the clearing system, cash dividend distribution, trading reports as well as the electronic Shareholders Analysis Report (eSAR).

The organization of this workshop has been widely welcomed by the DFM-dually listed companies and their representatives at the workshop have praised DFM’s commitment to regularly connect with them and explain the details of its issuer services that underlines the exchange’s constant efforts to employ advanced technologies to better serve various market participants.

The 11 companies participated in this workshop included 8 companies from Kuwait namely; Al-Madina for Finance & Investment, Ekttitab Holding Company, Hits Telecom holding Company, Al Mazaya Holding Company, Al Salam Holding Company, International Financial Advisors, Agility and National Industries Group Holdings in addition to 3 companies from Bahrain namely; Arab Insurance Group, GFH Financial Group and AL Salam-Bahrain Bank.

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