Nasdaq Announces Secondary Stock Offering

Nasdaq, Inc. (NASDAQ: NDAQ) and Borse Dubai Limited have just announced the launch of a secondary offering of Nasdaq common stock. Borse Dubai is offering 26,956,522 shares of Nasdaq's common stock, with an additional 30-day option to purchase up to 4,043,478 more shares. If the underwriters exercise their option in full, Borse Dubai is expected to hold approximately 58.3 million shares, representing about 10.1% of Nasdaq's outstanding shares.

Following this offering, Borse Dubai is anticipated to be the second-largest shareholder in Nasdaq. The company expects to receive all proceeds from the offering and plans to use them to enhance the capital structure and liquidity within the Borse Dubai group.

Borse Dubai's chairman and CEO, Essa Kazim, stated that the offering aims to strengthen the capital structure and liquidity within the Borse Dubai group, emphasizing their long-term commitment to Nasdaq. He also highlighted the multifaceted relationship between Nasdaq and Borse Dubai, spanning many years, and their shared strategic vision for the company's future.

Sarah Youngwood, Chief Financial Officer of Nasdaq, expressed appreciation for Borse Dubai's insights and contributions, emphasizing the shared vision for the future between the two entities.

Morgan Stanley and Goldman Sachs & Co. LLC are acting as joint lead book-running managers for the offering, with J.P. Morgan serving as the capital markets advisor to Nasdaq.

Nasdaq has filed a registration statement with the U.S. Securities and Exchange Commission for the offering. The company's diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence.

Borse Dubai, established in 2007, holds a minority stake in Nasdaq, Inc. and is the holding company of Dubai Financial Market and Nasdaq Dubai. It is owned by the Investment Corporation of Dubai.

As a result of these announcements, the company's shares have moved -2.0% on the market, and are now trading at a price of $61.24. If you want to know more, read the company's complete 8-K report here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.