Damas International announced that it will delist shares from Nasdaq Dubai as of June 12th, on the back of the joint bid submitted by Qatar’s Mannai Corporation and Egyptian investment bank EFG-Hermes.
The jeweler said in a statement that it had received on May 13th, 9:00 a.m. bids to purchase 878.986546 million shares, or 88.86% of capital.
A final decision will be issued on this offer by May 24th, at 2:00 p.m.
Damas approved delisting, as it owns over 75% of voting ratio and informed Borse Dubai of this decision, so that it can delist without obtaining the approval of the shareholder meeting.
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