Joins Nasdaq Dubai’s Private Market
Bengaluru: Malabar Investments, the international investment arm of Malabar Gold & Diamonds, one of the largest global jewellery retailer, announced that it has re-domiciled the company with the Dubai International Financial Centre (DIFC) and the registration of its shares of international operations with Nasdaq Dubai’s Central Securities Depository (CSD) in a significant step that strengthens Malabar’s links with investors and provides the Company with a transparent, well-regulated, efficient and secured solution for its share-related corporate actions.
To celebrate this development, Malabar Group’s Chairman M.P. Ahammed rang Nasdaq Dubai’s market opening bell, in the presence of Essa Kazim, Governor of DIFC and Chairman of Dubai Financial Market (DFM); Dr. P.A. Ibrahim Haji, Co-Chairman of Malabar Group; Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of DFM, as well as other senior representatives from both sides.
The group’s entry into the Nasdaq Dubai Private Market enables its 300+ shareholders from international operations to buy and sell shares with the approval of the Board of Directors through brokerage companies like Emirates ENBD Securities.
Transfers of ownership will take place securely in Nasdaq Dubai’s Central Securities Depository (CSD), while trading will take place off-exchange as the Company remains privately held.
This post was published on June 24, 2021 6:29 pm