Bloomberg reported that “The New York Stock Exchange is trying to attract tech companies in the Middle East to list in the United States of America by promising access to a broader investor base and deeper capital markets, even amid rising volatility that has disrupted listings around the world.”
“We have spoken to some companies in the Middle East,” said Alexander Ibrahim, head of international capital markets at the New York Stock Exchange, noting that “they can come here without raising capital or doing an initial public offering on the capital markets.” And “there are already many unicorn companies in the Middle East.”
Regional tech start-ups include Kitopi for cloud kitchens backed by Unicorn SoftBank, e-commerce company Noon, used car marketplace SellAnyCar.com, and online baby products store (Mumzworld).
Source: El Iktisad
