Chinese consortium top bidder for stake in Pakistan Stock Exchange

KARACHI: Pakistan Stock Exchange (PSX) said on Thursday a Chinese consortium has offered to buy a 40 percent stake in one of the top performing Asian bourses, ARY News reported.

According to a press release issued by PSX, a Chinese consortium consisting of China Financial Futures Exchange Company Limited, Shanghai Stock Exchange and Shenzhen Stock Exchange turned up as the top bidder offering Rs28 per share for 40 percent stake in the bourse.

The bidding process was conducted PSX’s divestment committee on Thursday under the chairmanship of Mr Shehzad Chamdia.

“The Divestment Committee will now issue the Letter of Acceptance to the above consortium, subject to formal approval of Securities and Exchange Commission of Pakistan (SECP),” said the release.