Nasdaq Inc. (NDAQ) has unveiled the price for Borse Dubai's secondary offering of approximately 26.96 million Nasdaq common shares at $59.00 per share. Additionally, Borse Dubai has given the underwriters the privilege to buy up to an extra 4.04 million Nasdaq common shares within the next 30 days. This offering is predicted to conclude on March 22, 2024.
Nasdaq confirmed it is not participating in the offering and hence won't gain any profits from it. Borse Dubai will be the sole recipient of all proceeds derived from the offering.
Upon the successful completion of the offering, Borse Dubai is anticipated to possess roughly 62.4 million shares, which is equivalent to about 10.8% of Nasdaq's existing shares. If the underwriters choose to exercise their privilege to buy extra shares fully, this will then represent roughly 10.1% of Nasdaq's outstanding shares, equivalent to around 58.3 million shares.
