DME refuses to be drawn of equity sale reports
30 May 2008
by Paul Francis-Grey, Colin Packham
An air of discontent and uncertainty has started to wash over Dubai Mercantile Exchange (DME) with suggestions that one of its main shareholders is looking to cut its ties from the Middle East exchange.
Reports have surfaced suggesting that the owners of the exchange, which includes New York Mercantile Exchange (Nymex), Oman Investment fund and Tatweer Dubai, were considering selling equity stakes totalling 20%. This would attract more international participants and additional liquidity, it is reported.
While it has been suggested that the owners would consider a partial equity stake sale, one market source said...