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BusinessUSD 72 million cost to secure majority stake in Dhiraagu
The Maldivian government must spend approximately $71.7 million to acquire an additional 9.2% stake in Dhiraagu to gain majority ownership. Based on current market values, the state needs to purchase 6.9 million shares from Bahrain-based Beyon. This move aligns with President Muizzu’s goal of increasing the state's holding to 51 percent.
BusinessMoves to regain majority state ownership of Dhiraagu
President Mohamed Muizzu announced that the Maldivian government has begun administrative steps to regain a 51% majority stake in Dhiraagu, the nation's most valuable company. Currently, Bahrain’s Beyon holds the majority share. The move aims to reverse previous divestments and return the telecom provider to state control.