MUMBAI: Indian stock exchange BSE Ltd´s initial public offering (IPO) of shares next week may raise as much as 12.43 billion rupees ($182 million) for its investors, based on the indicative price range for the sale announced on Monday.
Investors, led by Singapore Exchange Ltd, Atticus Mauritius and billionaire George Soros´ Quantum, will be selling up to 15.4 million shares in Asia´s oldest stock exchange in a price range of 805 rupees to 806 rupees per share, according to a public announcement. The IPO, which will be open for sale from Jan. 23 to Jan. 25, will value the stock exchange at about 44 billion rupees ($645 million) at the top end of the price range.
By comparison, Hong Kong Exchanges and Clearing Ltd has a market capitalisation of nearly $30 billion, while the Singapore Exchange is valued at more than $5.5 billion. BSE´s offering will be the first in Indian markets in 2017, after companies raised about $4 billion in 2016 from initial share sales making it the best year in six.
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