Borse Dubai plans to sell US$1.6bil of its stake in Nasdaq

Borse Dubai would still own more than 10% of Nasdaq’s stock and plans to agree to an 18-month lockup of the shares. — AP

NEW YORK: Nasdaq Inc’s biggest shareholder, Borse Dubai, is selling roughly one-third of its stake, or 27 million shares, in the exchange operator.

Borse Dubai is offering the shares at US$58 to US$60 each, which would raise as much as US$1.6bil.