Main Market
- Minimum market capitalisation
- USD 250m
- Minimum free float
- 25%
- Track record
- 3 years
- Profit required
- No
- Minimum shareholders
- 250
- Lock-up
- Not specified
Exchange comparisons
Nasdaq Dubai or DFM
Listing requirements of Nasdaq Dubai and DFM compared from the directory data. Check the primary sources before making decisions.
Data checked: 6 November 2026
Key facts
| Nasdaq Dubai | Dubai Financial Market | |
|---|---|---|
| Location | Dubai (DIFC), United Arab Emirates | Dubai, United Arab Emirates |
| Regulator | Dubai Financial Services Authority (DFSA) | Capital Market Authority (CMA), formerly Securities and Commodities Authority (SCA) |
| Trading currency | USD | AED |
| Indicative timeline | Not specified | Not specified |
| Listing segments | 2 | 2 |
Segments side by side
Figures by segment from the exchange rulebooks. Not specified means the rule does not set the figure or it has not been verified yet.
Nasdaq Dubai
Growth Market (SME)
- Minimum market capitalisation
- Not specified
- Minimum free float
- 25%
- Track record
- 1 year
- Profit required
- No
- Minimum shareholders
- Not specified
- Lock-up
- 12 months
DFM
Main Market
- Minimum market capitalisation
- Not specified
- Minimum free float
- 20%
- Track record
- 2 years
- Profit required
- Not specified
- Minimum shareholders
- 100
- Lock-up
- Not specified
Private Market (private joint stock companies)
- Minimum market capitalisation
- Not specified
- Minimum free float
- Not specified
- Track record
- 2 years
- Profit required
- No
- Minimum shareholders
- Not specified
- Lock-up
- Not specified
Nasdaq Dubai
Who each exchange suits
- International issuers that want USD listing under English common law (DIFC) without converting into a UAE PJSC
- SMEs below USD 250 million via the Growth Market with only 1 year of audited accounts
- Dual listings and debt or sukuk issuers seeking Gulf investors
- No profit test on either market
What to check
- Equity trading liquidity is far lower than on DFM or ADX
- 25% free float is higher than the onshore UAE minimum
- Growth Market: 12-month lock-in for all pre-listing shareholders
Dubai Financial Market
Who each exchange suits
- Large, liquid onshore UAE market with strong retail and institutional demand for IPOs
- No market cap threshold: two listing categories let smaller PJSCs list
- Private Market route lets private joint stock companies list without an IPO
- Low exchange fees
What to check
- Onshore issuer must be (or convert into) a UAE PJSC under the Companies Law, IPO prospectus approved by CMA
- Category Two status if fewer than 100 shareholders, free float below 20% or equity below paid-up capital; accumulated losses of 50% or 6-month suspension move a company to Category Two
- Foreign issuers need an existing foreign listing and 2 years of profits
Requirements change. Always confirm with the exchange and the regulator before making decisions. Educational material. Not investment, legal or tax advice.
Other comparisons
Which of the two fits your company?
Eurasia Consulting Group compares exchanges on the numbers and structure of a specific company.
Information on this site is educational. It is not investment advice, an offer of securities or financial advice. Exchange requirements change; always check the primary sources. Full disclaimer