Media Release

Kozhikode, Jun 19: Malabar Investments, the international investment arm of Malabar Gold & Diamonds, one of the largest global jewellery retailer, announced that it has redomiciled the company with the Dubai International Financial Centre (DIFC) and the registration of its shares of international operations with Nasdaq Dubai’s Central Securities Depository (CSD) in a significant step that strengthens Malabar’s links with investors and provides the company with a transparent, well regulated, efficient and secured solution for its share-related corporate actions.

To celebrate this development, Malabar group’s chairman M P Ahammed rang Nasdaq Dubai’s market-opening bell, in the presence of Essa Kazim, governor of the Dubai International Financial Centre (DIFC) and chairman of Dubai Financial Market (DFM); Dr P A Ibrahim Haji, co-chairman of Malabar Group; Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of DFM, as well as other senior representatives from both sides.

The group’s entry into the Nasdaq Dubai Private Market enables its 300+ shareholders from international operations to buy and sell shares with the approval of the Board of Directors through brokerage companies like Emirates ENBD Securities. 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 said, “As the leading centre 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.

The DIFC is the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and a nominal GDP of US$ 7.7 trillion.

Commenting on this significant milestone in Malabar’s journey, M P 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. The board also recognised the requirement of having an independent regulated authority as the registrar of shares (being Nasdaq Dubai) with share transfer occurring through a more formalised and transparent process.”

From his side, Hamed Ali, CEO of Nasdaq Dubai and deputy CEO of DFM said, “We would like to thank Malabar for joining Nasdaq Dubai’s private market that provides businesses with the ability to start preparing themselves for further investor engagement, whether through the public markets or privately. We have developed this market to ensure that the share register is well maintained especially when the number of shareholders starts increasing as new investors come on board.

Malabar Gold and Diamonds, the group’s operating business, currently generates an annual turnover of US $4.51 billion through an extensive network of over 260 outlets and 14 wholesale units and 14 jewellery manufacturing centres across 10 countries in the Middle East, South Asia, Far East and the USA. The company had recently announced the expansion plan to launch 56 stores with 40 in India and 16 internationally in FY21-22 with an investment of US $ 220 million which demonstrates its confidence in the growth of these markets in future.

Editor’s note
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 centres and factories spread across India, the Middle East, Far East and the USA. With an annual turnover of $ 4.51 billion, the company currently ranks one of the largest jewellery retailers globally.

With 14 cluster manufacturing units in India and GCC – the company currently has 12 jewellery brands to cater to the discerning needs of the customers. With headquarters in Kerala and branches across India, Middle East, Far East and the USA, Malabar Group is best known for its activities in the field of gold, diamonds, silver and lifestyle articles.

The group also operates MGD – Lifestyle Jewellery, a retail concept offering trendy and lightweight jewellery that represents the independent and the modern woman through its designs and collections.

The group, owned by over 4,000 shareholders excels in quality products and services, has more than 13,000 professionals working for its continued success.

Malabar Gold & Diamonds also features an online store www.malabargoldanddiamonds.com providing customers with the opportunity to purchase their favourite jewellery any time and on any day from the comfort of their home.