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Pakistan Sold China a 40 Percent Stake in Its Stock Exchange

Well-known Chinese news site Sina recently reported that Pakistan and China just inked an agreement that allowed Chinese buyers to acquire a total of a 40 percent stake in the Pakistan Stock Exchange. The price of the deal was US$85 million. China Financial Futures Exchange, the Shanghai Stock Exchange and the Shenzhen Stock Exchange will jointly receive 30 percent of the shares. The Pakistan Investment Company and Habib Bank of Pakistan will hold five percent each. Pakistani Finance Minister Ishaq Dar will attend the official ceremony set to take place in January. The Pakistan Stock Exchange will be the first foreign stock exchange organization in the Chinese “One Belt, One Road” strategy. This recent deal brings new capital, management experience, and financial products to Pakistan. Experts expected the Stock Exchange will offer more new products such as futures.

Source: Sina, December 26, 2016