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DFM makes AED 310 mln profit from LSE 3.1% stake sale

DFM makes AED 310 mln profit from LSE 3.1% stake sale
DFM
DFM
-1.35% 1.46 -0.02

The Dubai Financial Market (DFM) Company recorded profit of GBP 51.51 million (AED 310 million) from the sale of 3.1% of its stake in the London Stock Exchange (LSE), amounting nealy 8.5 million shares at a price of GBP 20.2 per share, against a buying price of GBP 14.14 per share in 2007.

DFM currently holds 17.4% of LSE, making it the largest shareholder in the UK-Bourse.

It is expected that Borse Dubai seeks to use the proceeds from the sale to fully subscribe to the LSE rights issue.