Diginex Limited, an impact technology company specialising in environmental, social, and governance (ESG) issues, has signed two memorandums of understanding (MoUs) to pursue a broad strategic partnership to facilitate Diginex's expansion in the UAE and the broader Gulf Cooperation Council GCC) region.
The partnership with Shaikh Mohammed Bin Sultan Bin Hamdan Al Nahyan via Nomas Global Investments, a solely owned SPV of Shaikh Mohammed, includes assisting the company with a dual listing of its ordinary shares on the Abu Dhabi Securities Exchange (ADX) and a planned capital raise of up to $250 million focused on large institutional investors based in the GCC. This strategic move is expected to bolster Diginex's growth trajectory, with the capital financing to fund multiple acquisitions and accelerate Diginex's regional as well as global expansion initiatives.
The MoUs mark a significant milestone for Diginex as it seeks to tap into the vibrant Middle Eastern capital markets while enhancing its presence in one of the world's fastest-growing financial hubs. The dual listing on ADX, alongside its existing Nasdaq listing and recent cross listing on the Frankfurt Stock Exchange and Tradegate, will provide Diginex with access to a broader investor base and increased liquidity to support its ambitious growth plans, the company said.
On February 25, 2025, ADX and Nasdaq announced further integration in their tie-up with one another. The integration of trading platform infrastructure opens up a pathway for desirable Nasdaq listed companies to dual-list in Abu Dhabi, and Diginex has been included in the first cohort of companies to go through such process. Upon completion of the listing process Diginex will be the first technology company listed on the ADX, and with a sustainability focus it stands to benefit from the region's commitment to sustainable finance, which stands at publicly committed funds for sustainable lending of more than $135 billion, it said.
Shaikh Mohammed Bin Sultan Bin Hamdan Al Nahyan, said: "This strategic partnership and planned capital raise reflects our long-standing commitment to both technology and sustainability in the UAE. We must address sustainability challenges, develop strategic frameworks, and craft innovative solutions to ensure a prosperous future for all. Sustainability is a cornerstone of the nation's strategies, as the UAE continues its unwavering efforts to harness resources and capabilities to drive global sustainable economic and social development."
The anticipated capital raise pursuant to the MoUs will fuel Diginex's acquisition strategy, targeting innovative firms in the AI, sustainability, and supply chain sectors by leveraging access to a new regional investor base and opportunities in the UAE, broader GCC region, and support Diginex's global growth goals.
"We are honoured and excited to welcome a member of Royal Family of Abu Dhabi as a strategic partner," said Miles Pelham, Chairman of Diginex. "We believe this partnership will support Diginex in establishing key relationships with regional and global financial institutions, banks, and strategic partners aligned with their business objectives. Our objective is to make Diginex a leader in ESG sustainable RegTech, utilizing gold-standard industry partnerships, blockchain, and AI technology within the UAE and GCC region."
The dual listing process will adhere to ADX's rigorous listing standards, ensuring transparency and investor protection. Diginex anticipates completing the necessary regulatory steps and capital-raising activities in the next two quarters, with further details to be announced as the partnership progresses. However, a dual listing comes with its normal regulatory processes and there can be no assurance that Diginex's planned dual listing of its ordinary shares on the ADX and capital raise will be successful. -TradeArabia News Service
