Dubai Stock Exchange sells a $1.6 billion stake in Nasdaq index

Nasdaq said on Tuesday that the Dubai Stock Exchange will sell shares worth $1.6 billion in the company that operates the American stock index, which reduces its stake to 10.8% from 15.5%, making it the second largest shareholder in the company after it was the first shareholder.

According to Reuters, the Dubai Stock Exchange will sell approximately 27 million shares in the company at a price of $59 per share, that is, a discount of more than five percent from the stock’s closing price on Tuesday.

Nasdaq shares closed Tuesday’s regular trading session up 3.6% at $62.46. It fell by more than two percent in the late trading session on Tuesday after the planned sale was announced.

The company said in a statement, “After the sale is completed, the Dubai Stock Exchange intends to agree not to sell its remaining shares controlled by Nasdaq for a period of 18 months, while reserving the right to nominate a member to the Nasdaq board of directors as long as it owns a stake of not less than ten percent of the current Nasdaq shares as of.” “His history.”

American private equity firm Toma Bravo will become the largest shareholder in Nasdaq, with a 12.5% stake on the American stock exchange, with about 71.6 million shares.