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PSX bidding: Chinese consortium top bidder for 40% stake

KARACHI (Dunya News) – A Chinese consortium was observed to be the topmost bidder for 40% stake of Pakistan Stock Exchange (PSX) during the bidding process for which the deadline was Dec 22.

According to details, the Chinese consortium offered to buy 70 percent of PSX stake for Rs 8.96 billion, translating to Rs28 per share.

The Chinese consortium consists of the Shanghai Stock Exchange, Shenzhen Stock Exchange, Chinese Futures Exchange, Pak-China Investment Company and Habib Bank Limited.

After this development, PSX would soon offer another 20% (160 million) shares to the general public after six months of the completion of acquisition process by the strategic investors.