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Dubai Mercantile Exchange to announce stake sale-source

Sun Aug 10, 2008 10:53pm EDT

SINGAPORE, Aug 11 (Reuters) - The owners of the Dubai Mercantile Exchange (DME), a joint venture between Oman, Dubai and the New York Mercantile Exchange NMX.N, will announce later on Monday the sale of a stake in the bourse, a source close to the company said.

Asked whether an announcement scheduled for 0630 GMT was about the sale of a stake, the source said: "Yes."

Industry sources had said in May the DME planned to sell up to 20 percent of itself to help boost liquidity and attract more international players. Its flagship Oman crude oil contract has shown little growth since it was launched just over a year ago.

It was not immediately clear whether the company would issue new capital for the stake or whether one of its owners was selling off part of their stake. (Reporting by Annika Breidthardt)



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