Pakistan Stock Exchange Says Chinese Consortium Has Top Bid for 40% Stake

Kshatriya87

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http://www.wsj.com/articles/pakista...onsortium-has-top-bid-for-40-stake-1482433211

ISLAMABAD, Pakistan—A Chinese-led consortium, including the Shanghai Stock Exchange, emerged as the top bidder Thursday for a 40% stake in the Pakistan Stock Exchange, one of the best-performing markets in Asia this year.

The Pakistan Stock Exchange, formerly the Karachi Stock Exchange, said the consortium includes three Chinese exchanges: the China Financial Futures Exchange as the lead bidder, the Shanghai Stock Exchange, and the Shenzhen Stock Exchange. The consortium also includes two Pakistani financial institutions: Pak China Investment Company Limited and Habib Bank Ltd.

The consortium’s winning offer, subject to regulatory approval, of 28 rupees ($0.27) per share values the stake at $85.5 million, and the exchange at $213.7 million.


The Pakistan Stock Exchange has been one of the best-performing markets in Asia this year, with its benchmark KSE 100-stock index gaining 42% this year. MSCI announced in June this year that it will upgrade Pakistan, earlier classified as a frontier market, to include it in its Emerging Markets Index.

The sale of the 40% stake is “big news not only for us, but also for the country,” saidShehzad Chamdia, chairman of the Pakistan Stock Exchange divestment committee. “I think it will be a game changer for our capital markets.”

Mr. Chamdia said the consortium’s offer is structured so that the three Chinese exchanges will have 30% of the exchange, while the two local partners will have 5% each. Along with board seats, the consortium will also get to nominate the CEO and CFO at the exchange, Mr. Chamdia said.

Pakistan has seen major Chinese investment in recent months, especially under the China-Pakistan Economic Corridor, a multibillion-dollar infrastructure program to upgrade the land route between the two countries and also boost Pakistan’s energy generation capacity.

Separately, China’s state-owned Shanghai Electric Power Co. acquired a controlling stakein K-Electric, the power utility in Karachi, Pakistan’s largest city.

Prime Minister Nawaz Sharif’s government considers boosting foreign investment a key pillar of its plan to revive Pakistan’s economy, and has pointed to the performance of the country’s stock exchange during his tenure as a sign of economic progress.
 

Mikesingh

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Like the Tibetan Autonomous Region, Porkiland has become Pakistan Autonomous Region of China. Even Paki brothels have now been taken over by Chinese whores!
 

airtel

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colonization of Pakistan :hehe::hehe::hehe:

their Leaders & Army are selling their country @85 million $ ....................Ha Ha Ha :hippo::hippo:
 

Chinmoy

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Inn sabko maaro goli. Just make me understand these two points.

1-
The sale of the 40% stake is “big news not only for us, but also for the country,” saidShehzad Chamdia, chairman of the Pakistan Stock Exchange divestment committee. “I think it will be a game changer for our capital markets.”
2-
Prime Minister Nawaz Sharif’s government considers boosting foreign investment a key pillar of its plan to revive Pakistan’s economy, and has pointed to the performance of the country’s stock exchange during his tenure as a sign of economic progress.
How come sale of stake is FDI????:confused1::confused1::confused1::confused1::confused1::confused1::confused1::confused1::confused1::confused1::confused1::confused1::confused1::confused1:
 

Kshatriya87

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Inn sabko maaro goli. Just make me understand these two points.

1-

2-

How come sale of stake is FDI????:confused1::confused1::confused1::confused1::confused1::confused1::confused1::confused1::confused1::confused1::confused1::confused1::confused1::confused1:

Pretty soon chinese will be sitting in porkistani parliament and making policies there.
 

sthf

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Dayum!!!

It is just like reading a history book. I am quite confident that a Chini version of Thomas Roe is at this very moment is convincing Badshah of Lahore Alampana Nawaz Sharif that this is an excellent deal.
 
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PIA sold, PSX sold, let's see what's next.
“I think it will be a game changer for our capital markets.”
Everything Chinese do is a game changer indeed. Countries making anti dumping laws against them are all fools.

In becharon ko kya gali dun bhala ab mai?:dude:
 

rock127

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colonization of Pakistan :hehe::hehe::hehe:

their Leaders & Army are selling their country @85 million $ ....................Ha Ha Ha :hippo::hippo:
Pakis are very submissive so they love becoming a whore to anyone throwing some $$$ on their face.

All of their Islamic Izzat goes for a toss.

btw Chinese should understand that having relations with Pakis would give them AIDS called Terrorism.China already have blamed Pakis for Islamic terrorism in Western China which are eary symptoms of AIDS.

And not to mention why China named R.A.N.D.I to the China-Pak relationship. :rofl:

China-Pakistan.jpg



Our esteemed Terrorist Paki Panel: @Neo @Raja.pakistani @Zarvan @musalman @Zulfiqar Khan
 

Blackwater

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Pakis are very submissive so they love becoming a whore to anyone throwing some $$$ on their face.

All of their Islamic Izzat goes for a toss.

btw Chinese should understand that having relations with Pakis would give them AIDS called Terrorism.China already have blamed Pakis for Islamic terrorism in Western China which are eary symptoms of AIDS.

And not to mention why China named R.A.N.D.I to the China-Pak relationship. :rofl:

View attachment 12650


Our esteemed Terrorist Paki Panel: @Neo @Raja.pakistani @Zarvan @musalman @Zulfiqar Khan

latest news is pakis govt ne karachi airport girwe rakh diya 3 times 350 arab ruppes me

karachi airport bhi inka nahi ha


they will sell every inch of their land to foreign companies and countries:biggrin2::biggrin2::biggrin2::biggrin2:

pakis external debt is 75 billion dallar if it reaches 100 billion ,they have to compromise on atmi hathiyaar

interestingly they blame kufur india and modi for that

:rofl::rofl::rofl:
 

Chinmoy

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latest news is pakis govt ne karachi airport girwe rakh diya 3 times 350 arab ruppes me

karachi airport bhi inka nahi ha


they will sell every inch of their land to foreign companies and countries:biggrin2::biggrin2::biggrin2::biggrin2:

pakis external debt is 75 billion dallar if it reaches 100 billion ,they have to compromise on atmi hathiyaar

interestingly they blame kufur india and modi for that

:rofl::rofl::rofl:
Airport only???? You forgot to mention the roads............... Here is one for entertainment of all over here.

 

amoy

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Hope u all see this in business perspectives and stop trolling.

Pricing of the deal certainly is subject to market evaluation.

Chinese company buys Chicago Stock Exchange
NEW YORK - In a sign of China's expanding financial reach, a Chinese-led investor group is buying the 134-year-old Chicago stock exchange.

No purchase price was disclosed. The deal is expected to close in the second half of the year and needs to be approved by the U.S. Securities and Exchange Commission.
Your hero Modi is busy promosing to get rid of "red tapes" for foreign investors... None of u has bothered about "selling India out".

Considering Chinese expertise in financial markets -

Shanghai Stock Exchange
Shanghai Stock Exchange is the world's 5th largest stock market by market capitalization at US$3.5 trillion as of February 2016, and 2nd largest in East Asia andAsia.
Shenzhen Stock Exchange
With a market capitalization of its listed companies around US$2.285 trillion in 2015, it is the 8th largest stock exchangein the world, and 4th largest in East Asia and Asia.
Hong Kong Exchanges and Clearing
In June 2012, HKEx announced its cash offer to acquire the London Metal Exchange (LME), the world's premier metal exchange since its founding in 1877, for GBP1.388 billion.[3] The acquisition was completed in December 2012.
 

Srinivas_K

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You are bullying small nations into selling their assets cheaply.

You are using the Indian bogey man and terrorism as a reason to put pressure on countries. At the same time talking in two tongues.

You should know that MNCs which has invested all around the world shunned Pakistan and left the space for China to occupy. Hard times ahead for Chinese plans.



Hope u all see this in business perspectives and stop trolling.

Pricing of the deal certainly is subject to market evaluation.

Chinese company buys Chicago Stock Exchange

Your hero Modi is busy promosing to get rid of "red tapes" for foreign investors... None of u has bothered about "selling India out".

Considering Chinese expertise in financial markets -

Shanghai Stock Exchange

Shenzhen Stock Exchange

Hong Kong Exchanges and Clearing
 

HariPrasad-1

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Pakistan now will auction Karachi and Lahore and china will be the top bidder that time too.
 

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