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January 24, 2017

Chinese directors to join PSX by month-end

 
January 24, 2017

KARACHI: The Chinese-led consortium, which bought 40 percent strategic stake in Pakistan Stock Exchange recently, will appoint its directors on PSX board before the end of this month, a report said on Monday.

“With appointment of the directors, the Chinese group would become fully functional and get direct control over PSX’s routine operations,” a leading stock broker and former director PSX, Zafar Moti told the newswire here. He noted with satisfaction that the demutualisation process of PSX was successfully going ahead.

“After off-loading 40 percent shares of brokers to Chinese-led consortium as PSX’s strategic partner, the apex bourse has become the best performing regional stock exchange,” said he adding it was going to cross 50,000 points mark soon.

Moti said now PSX is on the radar of the international markets. “Malaysia and Singapore are also among the counties that are keen to invest in PSX.”  He explained that under this initiative, share prices would be displayed for open offer within the country and abroad. Moti said though China is our sole strategic partner; however, the doors of PSX are open for the whole world.