NetSol technologies commences trading on DIFX
NetSol Technologies Inc. (“NetSol”) (NasdaqCM: NTWK / DIFX: NTWK), a worldwide provider of global business services and enterprise application solutions, announced today the commencement of trading of its NASDAQ US-listed common shares on the Dubai International Financial Exchange (DIFX). NetSol will trade on the DIFX under the symbol “NTWK”, complementing the company’s current listing on the NASDAQ Capital Market. NetSol is the first NASDAQ US-based company to list on the DIFX.
“It is with great excitement that we initiate trading of NetSol common shares on the DIFX. Our dual listing on the DIFX, the first by a U.S. company, represents an important milestone in our corporate history and supports NetSol’s strategic mission to further expand our brand visibility and investor base in the United Arab Emirates and the broader Middle East region. Parallel to the dynamic growth we are seeing in the region, NetSol seeks to become a market leader in the region’s lease and asset-based financial software market as well as a major provider of Global Business Services to the region,” said Najeeb Ghauri, chairman and chief executive officer of NetSol Technologies, at a press conference this morning. “I would also like to thank Unicorn Consulting Inc., a Middle East business advisory firm who helped organize strategy and logistics in Dubai. I would also like to especially thank Joe Jaigobind, formerly of Maxim Group, now at Rodman & Renshaw (NASDAQ: “RODM”), for his counsel and guidance in helping us move successfully through the DIFX listing process.”
Per E. Larsson, chief executive of the DIFX, stated, “As a high technology company, NetSol is a significant addition to the opportunities for regional investors on the DIFX.”
“By creating NASDAQ OMX we are now able to offer listing opportunities in the U.S., Europe and Middle East. We are very pleased that as a NASDAQ listed company, NetSol Technologies has chosen to expand their presence to additional NASDAQ OMX markets. We hope that more companies will follow NetSol Technologies' example in order to attract investors on a global scale,” stated Bruce Aust, Executive Vice President of NASDAQ OMX Corporate Client Group.
NetSol has engaged Computershare Limited (“Computershare”), a leading financial market services and technology provider for the global securities industry, to help facilitate the transfer of shares between the U.S. and Dubai markets. Market participants may utilize Computershare’s unique xSettle web-based service to expedite cross-border settlement between the two markets.
To take full advantage of Computershare’s global reach, NetSol has also appointed Computershare as its new US Transfer Agent, to be effective in the coming weeks.
