Nasdaq announced the pricing of the previously announced secondary offering by Borse Dubai of 26,956,522 shares of Nasdaq’s common stock at $59.00 per share. Borse Dubai has also granted the underwriters a 30-day option to purchase up to 4,043,478 additional shares of Nasdaq’s common stock. The offering is expected to close on March 22, 2024, subject to customary closing conditions.

Nasdaq is not offering any shares in the offering and will not receive any proceeds from the offering. Borse Dubai will receive all of the proceeds from the offering.

At the completion of the offering, Borse Dubai is expected to hold approximately 62.4 million shares, representing approximately 10.8% of Nasdaq’s outstanding shares, or approximately 58.3 million shares if the underwriters exercise their option to purchase additional shares in full, representing approximately 10.1% of Nasdaq’s outstanding shares.

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

Source: Nasdaq