First 2 funds list on DIFX
Dubai, November 12, 2008
BH Global Ltd and BH Macro Ltd, two funds managed by the hedge fund manager Brevan Howard Offshore Management Limited, were listed on the Dubai International Financial Exchange (DIFX).
“We are delighted to welcome BH Global and BH Macro to the exchange. As the first funds to list their shares on the DIFX, they represent a significant new opportunity to investors in the region,' stated Jeff Singer, chief executive of the DIFX.
“As the region’s international exchange, the DIFX is committed to providing institutional and retail investors with outlets for diversification.”
BH Global and BH Macro, both closed-ended feeder funds, are also listed on the London Stock Exchange. Their listing on the DIFX is a non-capital raising secondary listing in dollars.
“We are very pleased to be one of the first funds to list on the DIFX. The listing should enhance BH Global’s profile in the area and increase our opportunities to strengthen further and diversify BH Global’s shareholder base,” said Lord Turnbull, chairman of BH Global.
“The listing in Dubai should increase secondary market liquidity for BH Macro. Because of the DIFX’s strategic position between Western Europe and East Asia, and because of the exchange’s close links to investors in its own region and around the world, we anticipate considerable additional investor interest,” added Ian Plenderleith, chairman of BH Macro.-TradeArabia News Service