Home UAE Dubai Malabar Gold & Diamonds joins Nasdaq Dubai’s Private Market Malabar Gold & Diamonds currently generates an annual turnover of $4.51bn through a network of over 260 outlets and 14 wholesale units by Varun Godinho June 14, 2021 Malabar Investments, the international investment arm of Malabar Gold & Diamonds, has redomiciled the company with the Dubai International Financial Centre (DIFC) and registered its shares of its international operations with Nasdaq Dubai’s Central Securities Depository (CSD). The group’s entry into the Nasdaq Dubai Private Market enables its over 300 shareholders from its international operations to buy and sell shares with the approval of the Board of Directors through brokerage companies like Emirates ENBD Securities, said a statement posted by Dubai News Agency. Transfers of ownership will take place securely in Nasdaq Dubai’s CSD, while trading will take place off-exchange as the company remains privately held. “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,” said M. P. Ahammed, chairman of Malabar Group. Malabar Gold & Diamonds, the group’s operating business, currently generates an annual turnover of $4.51bn through a 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 $220m. The move is expected to generate 1,750 new jobs. Several new stores are expected to open in Q1 of FY 21-22 global destinations including in Little India in Singapore, Kuala Lumpur and Penang in Malaysia, Ruwi, Baushar and Al Khoudh in Oman, Jeryan Jenaihat and Rawdat in Qatar, Bab al Bahrain in Bahrain and in the UAE in Al Zahia and Muweilah in Sharjah, and Silicon Oasis and Dubai Gold Souk Dubai. Tags Dubai International Financial Centre Malabar Gold & Diamonds Malabar Investments Nasdaq Dubai Nasdaq Dubai Private Market 0 Comments You might also like DFSA scraps regulatory fees on ESG listings on Nasdaq Dubai UAE a key player in global financial sector, says NYSE vice chair UAE’s DP World raises $1.5bn with green sukuk UAE taps international bond markets with $1.5bn sale