One of the largest global jewellery retailer, Malabar Gold & Diamonds’ international investment arm Malabar Investments has redomiciled the company with the Dubai International Financial Centre (DIFC), the leading financial center in the Middle East, Africa, and South Asia region.
Furthermore, the company has announced the registration of its shares of international operations with Nasdaq Dubai’s Central Securities Depository (CSD). This will help to strengthen Malabar’s links with investors and provides the company with a transparent, well-regulated, efficient, and secured solution for its share-related corporate actions.
With the group’s entry into the Nasdaq Dubai Private Market, its 300+ shareholders from worldwide operations can purchase and sell shares through brokerage firms such as Emirates ENBD Securities with the consent of the Board of Directors.
According to the company statement, “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.”
Essa Kazim Chairman – DFM
“As the leading center 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.”
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.”
Malabar Gold & Diamonds
Malabar Gold & Diamonds is the flagship company of Malabar Group, a leading diversified Indian business conglomerate. Established in 1993 in the Indian state of Kerala, Malabar Gold & Diamonds today has a strong retail network of over 260 outlets spread across 10 countries, 14 wholesale units in addition to offices, design centers, and factories spread across India, the Middle East, Far East & USA. The company currently ranks as one of the largest jewellery retailers globally, with an annual turnover of $4.51 billion.
