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8 months ago
Chinese consortium top bidder for 40 pct stake in Pakistan Stock Exchange - official
December 22, 2016 / 1:28 PM / 8 months ago

Chinese consortium top bidder for 40 pct stake in Pakistan Stock Exchange - official

KARACHI, Pakistan, Dec 22 (Reuters) - A Pakistan Stock Exchange official said on Thursday a consortium consisting of the Shanghai Stock Exchange and Shenzhen Stock Exchange has offered 28 rupees ($0.2672) per share to buy a 40 percent stake.

"All I can say ... is the Chinese consortium is the top bidder," PSX Managing Director Nadeem Naqvi told Reuters on Thursday ahead of an official announcement of the bids.

He said 40 percent of the Karachi-based stock exchange represents 320 million shares. That would make the potential deal worth 8.96 billion ($85.5 million) ($1 = 104.8000 Pakistani rupees) (Writing by Kay Johnson; Editing by Toby Chopra)

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