GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

    Share
  •  Malabar Investments, the international investment arm of Malabar Gold & Diamonds, shifts its base to Dubai International Financial Centre (DIFC)
  •  Malabar Investments' shares of international operations registered with Nasdaq Dubai's Central Securities Depository (CSD) and will be traded through Emirates NBD Securities
 
Dubai, UAE, June 14, 2021:  Malabar Investments, the international investment arm of Malabar Gold & Diamonds, one of the largest global jewellery retailer, announced that it has redomiciled 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 Mr. M. P. Ahammed rang Nasdaq Dubai's market opening bell, in the presence of His Excellency Essa Kazim, Governor of the Dubai International Financial Centre (DIFC) and Chairman of Dubai Financial Market (DFM); Dr. PA Ibrahim Haji, Co-Chairman of Malabar Group; Mr. 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.
 
H.E. Essa Kazim, Governor of the DIFC and Chairman of the DFM said: “As the leading centre of excellence and international financial hub of the region, Dubai has been committed to provide various types of companies with numerous opportunities to avail benefits of capital markets and empower their growth strategies. The world-class business environment of DIFC as well as the infrastructure and regulations of Nasdaq Dubai have been a key success factor in continuously attracting numerous leading businesses from across the globe whether to set up new companies, redomicile their current activities or implement their capital market transactions.  
 
The DIFC is the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and a nominal GDP of US$ 7.7 trillion. 
 
Commenting on this significant milestone in Malabar's journey, MP Ahammed, Chairman of Malabar Group, said: “As Malabar Gold & Diamonds continues to grow internationally, it has become imminent that the holding company be based in a jurisdiction like Dubai International Financial Centre (DIFC) with high international standards of transparency, regulations and compliance. The Board has also recognised the requirement of having an independent regulated authority as the registrar of shares (being Nasdaq Dubai) with share transfer occurring through a more formalised and transparent process.”
 
From his side, Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of DFM said: “We would like to thank Malabar for joining Nasdaq Dubai's Private Market that provides businesses with the ability to start preparing themselves for further investor engagement, whether through the public markets or privately. We have developed this market to ensure that the share register is well maintained especially when the number of shareholders start increasing as new investors come on board. 
 
Malabar Gold and Diamonds, the group's operating business, currently generates annual turnover of US$4.51 billion through an extensive network of over 260 outlets and 14 wholesale units and 14 jewellery manufacturing centres across 10 countries in the Middle East, South Asia, Far East and USA. The company had recently announced the expansion plan to launch 56 stores with 40 in India and 16 internationally in FY21-22 with an investment of US$ 220 million which demonstrates its confidence in the growth of these markets in future.

Posted by : GoDubai Editorial Team
Viewed 9705 times
Posted on : Monday, June 14, 2021  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Versus Los Feliz
Next Story : Double Success for Rado at the iF Design Awards 2021
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Standard Chartered Global Focus Q3 2021: Navigating a Vulnerable Recovery
Aesop's Parsley Seed Essentials - Your New Skincare Routine Favourites
Sunsets to Remember @ OSH with 50% off!
Herman Miller and Knoll Announce New Name: MillerKnoll
British-Born MG Motor Gains in Popularity during the first half of 2021 in the M...
You Know About the Diamond 4cs, but There Is Another ‘c' You Should Know About —...
Samsung Announces Exclusive Odyssey G9 Curved offer for UAE Consumers through th...
Sony Middle East & Africa Introduces the New Interchangeable-Lens Camera Alpha Z...
FW 21 WEEKEND / MAX MARA
Al Fardan Exchange Joins Forces With Empay's Contactless Ecosystem in Landmark D...
MAX&Co. FW21
Dubai-Based King Group Hospitality Expands Portfolio that will Boost UAE's Dh55 ...
Time with Michael Phelps
SEHA Introduces Specialized Saturday Clinics Across the Network
Back to the Office with CATRICE
ADU Welcomes more than 50 High School Students to the “ESTEDAD” Enrichment Bootcamps
Zoho to make Zoho Invoice Free of Charge to Empower SMEs to Rebuild and Grow
Jaguar Racing ‘Clones' Takeover Iconic London Underground Ahead of Heineken Lond...
ABB to Present Sustainable Solutions at Dubai EXPO 2020
Thought Series – The “True Knowing” and “Genuinely Being” Syndrome
11th Edition of SIAL Middle East and Abu Dhabi International Date Palm Exhibitio...
Live from BMW Welt: The Esports Industry Assembles Virtually at BMW Esports Boos...
Empower Awards Construction Contract Worth AED 133 Million for its 32,000 RT Dis...
5th Al Dhaid Date Festival begins at Expo Al Dhaid
Dubai's Best Activities for Summer 2021
Emirates Integrated Telecommunications Company Reports Q2 2021 results
My Take On FTH's Vegan Meat Range From Future Farms
Breathe Easy with the New Ranges from Crate & Kids
McLaren Racing Launches Multi-Year Partnership with Stanley Black & Decker
4 Memorable Holiday Ideas For Eid-Al-Adha
Push Start! - OMEGA
Sharjah Chamber, South Korea Explore Fostering Economic Ties
Early Detection is Key to Treatment of Hepatitis: says MoHAP on World Hepatitis Day
Galaxy Ecosystem Excellence Emphasized through the Galaxy Tab S7 FE's Brilliance
Hyundai Motor Group Honorary Chairman Mong-Koo Chung Inducted Into Automotive Ha...
EAD and Wetlands International Launch a New Online Portal for the World's Waterb...
Dubai Summer Story Contest Challenges Creatives to Produce Ultimate DSS Video an...
Airbus Reports Half-Year (H1) 2021 Results
Updates for BMW R 18 and R 18 Classic
Union Coop Holds 4 Virtual Training Courses for 350 Employees
Dubai Islamic Bank First Half 2021 Group Financial Results
Middle Eastern Medical Students at St. George's University Secure US Residencies
Commvault Announces Fiscal 2022 First Quarter Financial Results
The Next Era of Smartphone Innovation is About to Unfold
Canadian Specialist Hospital, KEF Healthcare sign MoU to Open Centre for Cardiac...
NBQ Announces First Winner of the AED 25,000 Summer Travel Promotion
Foreign Exchange Brokers and How to Take Advantage of them
Under the Directives of His Highness Sheikh Saud bin Saqr Al Qasimi, Ras Al Khai...
Defender Goes Rallying: Bowler Transforms Reborn Icon for 2022 Challenge Series
Etihad Rolls Out IATA Travel Pass To Seven Cities Following Successful Trials