The signing ceremony of the Share
Purchase Agreement of PSX’s Equity Stakes was held on January 20, 2017
in Karachi by the consortium and the Divestment Committee of Pakistan
Stock Exchange (PSX). The consortium is consisted of China Financial
Futures Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange,
China Pakistan Investment Company Limited and Pakistan Habib Bank.
Pakistan Finance Minister Senator Ishaq Dar, Chairman of the Securities
and Exchange Commission of Pakistan Zafar Hijazi and Chinese Ambassador
to Pakistan Sun Wei Dong attended the ceremony. Chairman Liu Shiyu of
China Securities Regulatory Commission sent a congratulation letter to
the ceremony.
According
to the Share Purchase Agreement, the consortium will get 40% of the
total equity stakes in PSX, among which 30% will be held by the three
Chinese exchanges. Next, the consortium will carry out reforms under the
Pakistan’s Stock Exchanges Act (2012), such as fully consolidating
PSX’s efforts in developing a multi-tiered stock market, bond market and
derivatives market, advancing technical development, promoting investor
awareness and strengthening investor protection, to boost the faster
and better development of PSX and the overall capital market.
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