.jpg)
The signing ceremony of the Share Purchase Agreement of PSX’s Equity Stakes was held on January 20, 2017 in Karachi by a consortium and the equity sale 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 Zafar Hijazi of the Securities and Exchange Commission of Pakistan and Chinese Ambassador to Pakistan Sun Wei Dong attended the ceremony. Chairman Liu Shiyu of China Securities Regulatory Commission sent a congratulation letter.
According to the Share Purchase Agreement, the consortium gets 40% equity stakes in PSX where the total shareholding by three Chinese exchanges amounts to 30%. Next, the consortium will work in the reform direction specified in Pakistan’s Stock Exchanges Act (2012), such as fully consolidating PSX’s efforts in developing multi-layer stock market, bond market and derivatives market, enhancing technical level and investors’ perception and strengthening investor protection, to boost the faster and better development of PSX and capital market.
