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UPDATE 1-Eurovestech, Cenkos link up to target MidEast market
March 14, 2012 / 7:38 AM / 6 years ago

UPDATE 1-Eurovestech, Cenkos link up to target MidEast market

* Targeting MidEast capital markets and Nasdaq Dubai

* Eurovestech to pay 900,000 stg to Cenkos

LONDON, March 14 (Reuters) - European development capital fund Eurovestech has joined forces with British stockbroker Cenkos Securities to target companies looking to raise capital in the Middle East and the Nasdaq Dubai market.

The Eurovestech/Cenkos agreement follows Middle Eastern merchant bank Markab Capital’s joint venture with British group Webb Capital to tap into a growing demand by Middle Eastern companies for London share listings.

Under the terms of their co-operation deal, Cenkos will work with Eurovestech on any suitable opportunities that clients may have to raise funds on NASDAQ Dubai. The introductions of new clients and transactions by Eurovestech with Cenkos will also be subject to commission sharing arrangements.

Eurovestech will also pay 900,000 pounds ($1.42 million) to Cenkos, while Cenkos will pay Eurovestech a proportion of any commission earned on transactions as a result of introductions of new clients by Eurovestech.

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