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PSX: Four seats occupied by Chinese Consortium!

SANA MAHMOOD

KARACHI: Four directors (Que Bo – Shanghai Stock Exchange – Zheng HU of China Financial Futures Exchange, Ms Yu Huali  – China Financial Futures Exchange, Li Peng – Pak China Investment Co Ltd.) representing Chinese Consortium participated in the reconstituted 15-member BoD’s meeting of the Pakistan Stock Exchange (PSX) here on Friday (March 10).

It is pertinent to mention her that the Chinese consortium had acquired forty percent equity in PSX.

Other members are Muneer Kamal, Moin M. Fudda, Abdul Majeed Adam, Ahmed Chinoy, Abid Ali Habib, Muhammad Yasin Lakhani, Samir Ahmed, Rahat Kaunain Hassan, Tawfiq Asghar Hussain, Muhammad Naeem, Nadeem Naqvi.

It is expected that PSX will gain from the experience of the Consortium. 

Pakistan Stock Exchange sells strategic 320 m (40%) shares to Chinese consortium for Rs. 8.96b (at Rs.28 each)!

Pakistan Stock Exchange sells strategic 320 m (40%) shares to Chinese consortium for Rs. 8.96b (at Rs.28 each)!

December 23, 2016

SANA MAHMOOD

KARACHI: Consortium consisting of the lead bidder China Financial Futures Exchange Company Ltd., Shanghai & Shenzhen Stock Exchange will be taking up 30% while Pak-China Investment Company Ltd & Habib Bank Ltd. 5% each. Under the regulations five percent is the maximum any single entity could take.

The first such deal in the region was announced by PSX’s Divestment Committee following the opening of bids on Thursday. LoA is expected by 27th day of this month.It is pertinent to mention here that while seventeen EoIs were received and six bidders showed up for the final bids, not all the names were revealed.

Sources privee to NewsPakistan.TV have shown optimism that such a move will ultimately prove to be positive for the investment environment of the country and the region.

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M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.