Singapore Stock Exchange (SGX) has picked up 5% in Bombay Stock Exchange (BSE). SGX is the second overseas bourse after Germany's Deutsche Borse to buy a stake into the BSE. SGX has paid Rs. 5200 per share of BSE, totaling to a sale of $42.7 mn. This is the same amount paid by Deutsche Borse, which values the exchange at $855 mn. The BSE stake is the first foreign acquisition by the SGX, which is Asia's third-largest listed bourse. Earlier, the New York Stock Exchange (NYSE) had acquired 5% in National Stock Exchange (NSE) for $115 mn valuing NSE at $2.3 bn.
Read the article in The Economic Times.
Related Post: Deutsche Borse buys 5% stake in BSE for Rs. 189 crores
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