Financial services firm Tolhurst Group (Tolhurst) has entered into a business arrangement that will offer them offshore opportunities including a possible listing on the Dubai International Financial Exchange (DIFX).
The Australian listed company has formed a business and shareholding relationship with McMillen Advantage Capital, the holding company of the MAC Capital Group.
The arrangement includes cross-marketing products including stockbroking in both the Australian and United Arab Emirates (UAE). It also includes cross listing on the DIFX and equity placements for Australian companies through MAC's international network.
"MAC is very well-positioned in Abu Dhabi, Dubai and in the DIFC and our extensive network in Australia will enable each of us to identify opportunities to work together," Tolhurst executive chairman David Browne said.
"MAC's international partnerships in London, Paris, Hong Kong, Geneva, Tokyo, the People's Republic of China and Bangkok may also provide us with access to a truly international distribution network."
MAC chairman and founder Robert McMillen said Tolhurst is not the first Australian company to consider the UAE.
"The potential of the DIFX is not lost on the Australian market and we have already seen several Australian companies list here. The potential to raise capital in the GCC [Gulf Cooperation Council] and to seek a new investor base here is also substantial," McMillen said.
Tolhurst is a principal member of the FPA and has 12 offices across Australia including Melbourne, Sydney, Perth, Adelaide, Brisbane and the Gold Coast.
