Chinese consortium buys 30% stake in the stock exchange of Pakistan

Almaty. December 28. Silkroadnews – The Chinese consortium comprising three Chinese stock exchanges and two Pakistani financial institution intends to buy a 40% stake in the stock exchange of Pakistan (Pakistan Stock Exchange) for $85 million, the newspaper “People’s Daily” writes.

The publication notes Shanghai Stock Exchange and Shenzhen Stock Exchange take part in the transaction, yet the newspaper does not have information on the third Chinese participant. According to the deal terms the Chinese exchanges will acquire 30% stake, with their Pakistani partners getting remaining 10%.

The Pakistan' Stock Exchange was set up earlier this year through the merger of the three trading floors, operating in Islamabad, Karachi and Lahore. Home office of the exchange is headquartered in Karachi.

Karachi Stock Exchange 100 index shows the performance of hundred largest companies and enterprises of the country. Since the beginning of the year the index has raised more than 40%, the newspaper notes.