BSE sells 51 percent equity to investors

Friday, 18 May 2007, 07:00 Hrs
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Mumbai: The Bombay Stock Exchange Ltd. (BSE) Friday said it had completed the sale of 51 percent of its equity shares to 19 domestic and foreign investors, including 10 percent to two foreign stock exchanges.

The BSE, in the process, reduced its brokers' stake to 49 percent in accordance with the government's directives.

"We have completed the sale of 51 of our equity shares to 19 domestic and foreign investors including the 10 percent to two foreign stock exchanges - the Frankfurt-based Deutsche Boerse and the Singapore Stock Exchange," said BSE managing director and CEO Rajnikanth Patel in a statement here Friday.

"Member brokers of the BSE traded their shares today at 5,200 per share taking the BSE's capitalisation to less than $1 billion," the statement said.

Earlier this year, the Singapore exchange and the Deutsche Boerse had each paid the BSE $42.1 million for five percent of its stakes.
Source: IANS
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