ASX-listed Sphere lists on the Dubai Stock Exchange

30 July 2007 | 07:50 Code : 14746 Geoscience events
ASX-listed Sphere Investments listed on the Dubai International Financial....

  ASX-listed Sphere Investments listed on the Dubai International Financial Exchange (DIFX) yesterday as the first company in the iron ore sector to list on the new international stock exchange in the Gulf region.The listing creates a regional base for Sphere and its planned development of the US$1.5 billion Guelb el Aouj iron ore direct reduction pellet project in joint venture with Société Nationale Industrielle et Minière (SNIM) in Mauritania. Sphere Managing Director, Alexander Burns said the DIFX was a natural fit, as the company’s shares can now be traded in the financial centre that is parallel with its regional focus.Dubai International Financial Exchange Chief Executive, Per E. Larsson said the dual listing of an Australian company with operations in Mauritania, West Africa, and business partners in Saudi Arabia and Qatar, underlined the role of the DIFX as a gateway linking its region with the rest of the world. “The DIFX is an ideal listing platform for both international and regional issuers, as it provides strong links to international and regional investors,” Mr Larsson said

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