Chinese streamlining transition of PSX management

KARACHI:  A delegation of the Chinese-led consortium, which bought a 40 percent strategic stake in Pakistan Stock Exchange (PSX) with an aim to take the equity market to new heights, had a busy day at the apex bourse here on Thursday. 

“Representatives of the Chinese delegation held meetings with the management to streamline the transition process as they want to be at the helm of the matters as soon as possible,” an official said.

“The government reforms have been phenomenal in helping PSX become one of the top ten best performing international stock exchanges, making it even more attractive for the international investors.” 

To a query about the agenda of the Chinese delegation’s Thursday’s call, the official said the visit was a part of the transition process, which is currently underway. “The officials of the consortium that holds the management control stake in the apex bourse can visit the exchange whenever they want,” the official added.

 Following the deal with the Chinese, a number of capital markets from the world have shown interest in becoming partners with PSX, he said adding all these developments will draw more foreign investment into Pakistan.

The Chinese-led consortium which comprises China Financial Futures Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange, Habib Bank Limited, and Pak China Investment Company has acquired 40 percent stake of the exchange as anchor investor.