Nasdaq, Inc.
Nasdaq Announces Secondary Offering by Borse Dubai
Summary
On March 19, 2024, Nasdaq, Inc. announced that Borse Dubai Limited, one of its major shareholders, has commenced a secondary offering of 26,956,522 shares of Nasdaq's common stock. Borse Dubai also granted the underwriters an option to purchase up to an additional 4,043,478 shares. Nasdaq will not receive any proceeds from this offering. As part of the transaction, Borse Dubai agreed to a 18-month lock-up period on its remaining shares and retains the right to nominate a director to Nasdaq's board as long as it owns at least 10% of Nasdaq's shares. The offering is expected to close on March 22, 2024, subject to market conditions.
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About Nasdaq, Inc.
Nasdaq, Inc. is a prominent financial services corporation best known for owning and operating the Nasdaq Stock Market, a leading global electronic securities exchange. Its primary function is to facilitate efficient buying and selling of securities, leveraging cutting-edge electronic trading technology. Nasdaq, Inc. provides a robust platform for technology and innovation-driven companies, playing a crucial role in the capital markets by offering listings, trading, and market data services. It significantly impacts sectors such as technology, biotechnology, and telecommunications, earning its reputation as home to many of the world's largest and most influential tech giants. Beyond its exchange services, Nasdaq, Inc. also offers an extensive suite of financial technology solutions, including market intelligence, analytics, and investor relations services, supporting institutional and corporate clients worldwide. Founded in 1971, Nasdaq has continually advanced its market operation capabilities, maintaining its status as a key player in modern financial markets by shaping trading practices and market systems across the globe.
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