Home » Dubai Stock Exchange Intends to Sell Portion of Nasdaq Stake for Approximately .6 Billion

Dubai Stock Exchange Intends to Sell Portion of Nasdaq Stake for Approximately .6 Billion

by Dubaiforum

A Dubai sovereign wealth fund, Borse Dubai, has revealed plans to sell a third of its shares in the Nasdaq stock index. This move, potentially valued at .6 billion, caused the firm’s value to drop in aftermarket trading on Wednesday. Borse Dubai, which is owned by the Investment Corp. of Dubai and is a major shareholder in the Nasdaq, aims to become the second-largest holder in the exchange. The decision to sell shares is expected to enhance liquidity, although specific plans for utilizing the cash have not been disclosed. This development underscores the ongoing changes in the financial landscape and the strategic moves being made by investment entities.

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