United Arab Emirates
Abu Dhabi to host Ai Everything Global Summit & Expo in 2026
The UAE has taken another major step in AI leadership with the announcement that Ai Everything Global Summit & Expo will be hosted in Abu Dhabi in 2026.
Nasdaq said on Tuesday that Borse Dubai would sell shares worth $1.6 billion in the U.S. stock exchange operator, ceding its spot as the company's top shareholder to private equity firm Thoma Bravo.
The deal will reduce Borse Dubai's stake in Nasdaq to 10.8% from 15.5% © Mena Today
Nasdaq said on Tuesday that Borse Dubai would sell shares worth $1.6 billion in the U.S. stock exchange operator, ceding its spot as the company's top shareholder to private equity firm Thoma Bravo.
The move sent shares of Nasdaq down nearly 4% in trading before the bell on Wednesday.
Borse Dubai will sell nearly 27 million Nasdaq shares at $59 each, a discount of more than 5% to the stock's last closing price.
The deal will reduce Borse Dubai's stake in Nasdaq to 10.8% from 15.5% and make it the company's second-largest shareholder. With a 12.5% stake, Thoma Bravo would become the biggest shareholder in the exchange.
Borse Dubai said it planned to agree to a lock-up period of 18 months for its remaining shares if the current sale is completed.
As long as it owns at least 10% stake in Nasdaq, it will also have the right to designate a nominee to the company's board of directors.
Reporting by Chibuike Oguh in New York and Mrinmay Dey in Bengaluru
The UAE has taken another major step in AI leadership with the announcement that Ai Everything Global Summit & Expo will be hosted in Abu Dhabi in 2026.
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