JP Morgan takes equity stake in DME
Published on: October 14, 2008 at 14:25
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Dubai: The Dubai Mercantile Exchange Limited (DME) today announced that J.P. Morgan has taken an equity stake in the Exchange joining a number of other leading global financial institutions and energy trading firms, including Goldman Sachs, Morgan Stanley, Vitol, Concord Energy, Casa Energy Trading, and a Shell Group company, who were announced as strategic investors in the DME in early August.
A statement to this effect said that DME’s Board of Directors approved the issuance of an equity stake of up to 20% to strategic investors, with core shareholders New York Mercantile Exchange, Inc., Tatweer, a member of Dubai Holding, and the Oman Investment Fund collectively holding a 75% equity stake in the Exchange.
However, the terms of the sale of this equity was not revealed saying it ‘remains private and confidential.’
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In India, gold is considered as one of the prestigious instruments of investment among the household consumers. Small household units are now becoming potential investors for gold from the key consumers. The demand for consumption purpose is no longer the main driver of demand for the yellow metal, but the systematic investments in retail gold investment options is the latest crush among the small investors in the country. 
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