Nov 2 2006
Gold Fields Limited (Gold Fields), one of the world’s largest gold producers, listed on the Dubai International Financial Exchange (DIFX). Gold Fields is the first African, South African and gold mining company to list on this exchange.
Ian Cockerill, Chief Executive Officer of Gold Fields, commented: “I am delighted that Gold Fields is again leading South African companies into a new terrain that we believe will yield many positive returns in the future. Gold Fields is confident that its listing on the DIFX will create many more opportunities for both institutions as mutually beneficial relationships develop. The DIFX is the gateway to a significant pool of liquidity in the Gulf, Middle East and Central Asian region.”
The South African Minister of Minerals and Energy, Buyelwa Sonjica expressed her approval by saying:
“Gold Fields is one of South Africa’s leading companies and also one of our proudest exports. The listing in Dubai supports our government’s initiatives to build solid cross-border interactions and encourage capital inflows into our beautiful country. I therefore wish Gold Fields well in this venture and believe that it will add value to the economy of Dubai ”
Per E. Larsson, Chief Executive Officer of the DIFX, remarked:
“The listing of Gold Fields demonstrates the attraction of the DIFX to major international companies. As the only international exchange between Western Europe and East Asia, the DIFX provides a natural link for investors in the region to access Gold Fields shares. The DIFX region has long been known for its fascination with gold, with Dubai alone importing one eighth of the world’s total supply in 2005.”
Nasser Al Shaali, Chief Operating Officer of the DIFX, said: “Gold Fields joins firms with roots in Kuwait, Saudi Arabia, the UAE, India, Germany, Switzerland and elsewhere that have listed securities on the exchange. We are preparing for further significant listings.”
The Managing Director of the World Gold Council, Moaz Barakat, also sanctioned the listing by remarking:
“Dubai, is the City of Gold, with more than 520 tons imported in 2005, it has highest gold consumption per capita in the world and it is a hub forthe gold and jewellery trade in the Middle East and Indian subcontinent. I am very pleased with this listing on the DIFX as it allows the individual and institutional investors in this capital-rich region the opportunity to diversify their portfolios in gold-based financial instruments."
At the close of business on Thursday, 26 October 2006 Gold Fields’ primary listing on the JSE had a market capitalisation of US$9 billion (based on the JSE closing price of US$17.51 per ordinary share. Gold Fields is also listed on the NYSE, LSE, Euronext and Swiss Exchanges, making DIFX its fifth secondary listing.