Borse Dubai to Sell $1.6 Billion Stake in Nasdaq

The move will make Borse Dubai the second-largest holder, affecting Nasdaq's share price.

Borse Dubai plans to divest a significant portion of its stake in Nasdaq, aiming to raise up to $1.6 billion.
The sale will reduce Borse Dubai's ownership to over 10% of Nasdaq's stock, making it the second-largest holder.
Nasdaq shares fell more than 2% in extended trading following the announcement.
Borse Dubai enters an 18-month lockup period for its remaining shares, showing a long-term commitment.
The transaction is expected to enhance the capital structure and liquidity within the Borse Dubai Group.