Salam to delist from DFM and transfer to Doha

Qatar-based Salam International Investment yesterday said it will delist its shares from the Dubai Financial Market (DFM) from March 15 and transfer the shares to the Doha stock exchange where it will continue to be traded.

The company is primarily listed on the Doha Security Market (DSM).

"The decision was taken due to the variation of applicable bylaws and regulations between the primary market DFM and the secondary market DFM. The variation include, among others, the variation of due date of cash dividends and bonus shares, or splitting the nominal value of shares," said a statement.

The statement added that the company will consider any rights accrued to DFM by shareholders and by the company, or any rights accrued to third party regarding the listed shares in DFM.

"The company will provide any possible support to all shareholders to transfer their shares from DFM and trading their shares in DSM rabidly," said the statement.

The stock has recorded thin trading on the Dubai bourse. No share was transacted yesterday.