According to a statement that was issued by Nasdaq (NDAQ.O), Borse Dubai will pay $1.6 billion for the sale of shares in the company that operates the stock exchange in the United States.
The position that Borse Dubai holds for the corporation would be reduced from 15.5% to 10.8% as a consequence of this, making it the second-largest stakeholder in the organization under consideration.
In order to become the largest shareholder in Nasdaq, Borse Dubai, which now has over 27 million shares of Nasdaq, will sell those shares.
In comparison to the stock's closing price on Tuesday, the price per share will be $59, which represents a discount of more than 5% over the previous price. At the end of the regular session, Nasdaq shares reached $62.46, representing a gain of 3.6% from the previous day.
More than two percent of their value dropped during the extended trading session that took place on Tuesday as a direct result of the news that the scheduled share sale was going to take place.
"Subject to completion of the offering, Borse Dubai intends to agree to an 18-month lock-up of its remaining shares controlled by Nasdaq, with a right to designate a nominee to the Nasdaq board of directors so long as it continues to own at least 10% of Nasdaq's outstanding shares as of the date hereof," according to a statement that was issued by the organization.
The private equity firm Thoma Bravo, which is headquartered in the United States, is going to turn out to be the most significant shareholder in Nasdaq.
There will be approximately 71.6 million shares in the company's possession, which is comparable to a 12.5% holding in the Nasdaq trading platform.
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