Singapore Exchange to buy 5 pct stake in Bombay Stock Exchange for 42.7 mln usd |
|
|
|
Published
:
Wed, 07 Mar 2007 12:46
|
SINGAPORE (XFN-ASIA) - Singapore Exchange Ltd (SGX) said it has agreed to buy a 5 pct stake in Bombay Stock Exchange (BSE) for 42.7 mln usd.The two exchanges have also agreed to explore collaboration in areas relating to listings and product development to leverage on SGX's regional hub status for derivatives and international listings and BSE's strong presence in India.The transaction is subject to relevant regulatory and shareholder approvals. Kotak Investment Banking and UBS Investment Bank acted as financial advisors to BSE and SGX, respectively.'Our investment in BSE is consistent with our strategy of building an Asian gateway for securities and derivatives products,' SGX chief executive Hsieh Fu Hua said in a joint statement.BSE managing director and chief executive Rajnikant Patel said in the same statement: 'This strategic tie-up with SGX will offer the Asian advantage to BSE. This partnership is not only mutually beneficial for both the exchanges, but also complement our association with Deutsche Boerse.'Deutsche Boerse AG had signed an agreement to purchase a 5 pct stake in BSE for the same amount of 42.7 mln usd.(1 usd = 1.52 sgd)lynette.khoo@xfn.com
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
2792.28 |
22.57 (
0.81 %)
|
| SYMBOL (
2012-01-19 ) |
| LAST |
CHANGE
|
|
CARNIVAL
(
11:35am )
|
|
2017.00 |
46.00 (
2.42 %)
|
|
WHITBREAD
(
11:35am )
|
|
1662.99 |
33.99 (
2.09 %)
|
| SYMBOL (
2012-01-19 )
|
| LAST |
CHANGE
|
|
IBM
(
12:34pm ) |
|
181.50 |
0.43 (
0.24 %)
|
| SYMBOL (
2012-01-19 )
|
| LAST |
CHANGE
|
|
|
Print this Story
Singapore bourse front-runner for buying 5 pct in Bombay Stock Exchange - report 