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03 March 2024

OMX Q4 operating profit skids to $36.96m

By Agencies

OMX, whose board has recommended a takeover offer from Borse Dubai, reported on Thursday a drop in fourth-quarter operating profits to 255 million Swedish crowns ($39.96 million; Dh145.9 million).

That compared with 320 million crowns ($50.39 million; Dh183.92 million) in the third quarter and 355 million crowns ($55.9 million; Dh204.03 million) in the year-earlier period.

OMX said its board did not propose a dividend.

Borse Dubai has teamed up with US exchange Nasdaq to buy the Nordic exchange owner for 265 crowns ($41.72; Dh152.28) per share, after which it would transfer OMX to Nasdaq in exchange for a stake in the combined group.

Regulators have approved the deal and the OMX board this month backed it, although the Swedish government has not given final sign-off. Government advisers last week said a Borse Dubai acquisition would be beneficial to the Swedish marketplace.

Sweden's financial markets minister, Mats Odell, is due to hold a news conference later on Thursday on OMX. (Reuters)