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NYSE Euronext calls off share sale in MCX: sources
March 7, 2013 / 4:47 AM / 5 years ago

NYSE Euronext calls off share sale in MCX: sources

MUMBAI (Reuters) - NYSE EuronextNYX.N has called off its plan to raise up to $46 million by selling its 4.8 percent stake in Multi-Commodity Exchange of India (MCX)(MCEI.NS), two sources with direct knowledge of the development said on Thursday.

A staff member walks past the MCX-SX logo at their Exchange Square building in Mumbai February 11, 2013. REUTERS/Vivek Prakash

The deal to sell the transatlantic exchange operator’s 2.44 million shares in India’s largest commodity bourse to institutional investors was launched late on Wednesday and was expected to be executed in stock markets on Thursday morning.

The transaction has been called off for now due to poor investor response to the pricing of the share sale, one of the sources said. Both sources declined to be named as they were not authorised to speak to the media.

NYSE Euronext had said last month it would shed its stake in Mumbai-based MCX.

Reporting by Abhishek Vishnoi and Sumeet Chatterjee; Editing by Rafael Nam

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