Three Chinese Exchanges Eye 40 Percent Stake In Pakistani Bourse
Umer Jamshaid Published December 08, 2016 | 02:45 PM
KARACHI, Dec 8 (UrduPoint / Pakistan Point News - 08th Dec, 2016 ) : Three of China's financial market operators intend to buy jointly a combined stake of up to 40 percent in the pakistan stock exchange (PSX), a person with close knowledge of the potential deal told China Daily.
The source, who is with the Shanghai Stock Exchange, said the SSE and two other bourses in China have submitted a letter of intent to the PSX, the China daily reported. The source with the SSE told China Daily the acquisition attempt is still undergoing procedures and more details will be disclosed jointly by the three buyers at an "appropriate time," if the acquisition is successful.
The acquisition, if successful, would be the first by Chinese bourses of a foreign stock exchange. China's news and business social media platform jiemian.com reported on Wednesday that the three operators, namely the SSE, the Shenzhen Stock Exchange, and the Shanghai-based China Financial Futures Exchange, would like to buy stakes in the PSX, but the three operators declined to comment on the acquisition at the current stage.
A Shenzhen Stock Exchange source told China Daily that "there is nothing I can say about this deal at the current stage." The psx was formed in January by consolidating the Lahore, Karachi and Islamabad stock exchanges.
Related Topics
Recent Stories
Rizwan’s batting order may be changed: Sources
Nawaz Sharif to visit Guangzhou exhibition in China
FM Dar not traveling to China: Foreign Office
PM takes notice of deliberate delay in tax cases
Iranian President visits Allama Iqbal’s mausoleum
Iranian President arrives in Lahore today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 23 April 2024
Today Gold Rate in Pakistan 23 April 2024
Islam enlightened world with its teachings about knowledge: Dr Jamileh
Record London close as oil prices drop on easing Middle East fears
TV tower in Kharkiv struck as Russia captured village
LCCI language courses from May 1
More Stories From Pakistan
-
Voters rejected PTI's narrative of hatred, hypocrisy and lies in bye-elections: Tarar
2 minutes ago -
President highlights significance of enhanced aerial connectivity
2 minutes ago -
SP conducted Khuli Katchery to address public complaints
2 minutes ago -
Crackdown against profiteers launched
2 minutes ago -
Kohat Deputy Commissioner chairs meeting on sanitation and encroachments
2 minutes ago -
Scrutiny of nomination papers for NA-148 bye-election completes
2 minutes ago
-
Iranian President Raisi for promotion of modern centers of arts, science
2 minutes ago -
NAEAC conducts accreditation assessment at SAU
2 minutes ago -
Minor girl dies in water tank
12 minutes ago -
Govt urged to take meaningful actions to tackle religious intolerance, advance human rights
12 minutes ago -
Hot, dry weather forecast for Sindh
12 minutes ago -
KP nominates three members for representing in Pakistan climate change authority
22 minutes ago