• 17/07/2024 16:24

Dubai Exchange sells third of its stake in Nasdaq for $1.6 billion

The Dubai Exchange (Borse Dubai) is selling about a third of its shares in American exchange operator Nasdaq Inc. According to Borse Dubai, it will sell a total of 27 million shares at a price of $59 per share. This will allow the company to raise about $1.6 billion.

The Dubai Exchange is selling a third of its stake in Nasdaq for $1.6 billion

►Read the Ministry of Finance page on Facebook: top financial news

Details

Currently, the Dubai Exchange is the largest shareholder in Nasdaq. After the deal is closed, she will own 10.8% of the shares of the American company.

Thus, she will move to second place in the list of largest shareholders. The first will be the Thoma Bravo private equity fund, which owns 12.5% ​​of Nasdaq, the Financial Times notes.

The organizers of the sale of Nasdaq shares owned by Borse Dubai will offer investors an additional 4 million securities of the exchange operator within 30 days.

The Dubai Exchange is selling Nasdaq shares in order to improve the capital structure and increase liquidity in Borse Dubai Group, it said in a statement.

“We remain a long-term shareholder of Nasdaq,” the company notes.

“We remain a long-term shareholder of Nasdaq,” the company notes.

p>

Borse Dubai became the owner of a 20% stake in Nasdaq in 2007.

Share reaction

Nasdaq shares lose 3.1% in pre-market trading on Wednesday . Over the last 12 months, their value has increased by 18%.

minfin.com.ua

Leave a Reply

Your email address will not be published. Required fields are marked *