Singapore Stock Exchange to sell BSE shares in IPO
Q. Which exchange has decided to sell its shares along with top shareholders such as Atticus Mauritius?- Published on 12 Sep 16a. LSE
b. Singapore Stock Exchange
c. Nikkei
d. NYSE
ANSWER: Singapore Stock Exchange
Singapore Exchange along with top BSE shareholders Caldwell India Holdings Inc, Acacia Banyan Partners and GKFF Ventures will sell BSE shares in forthcoming IPO of the exchange.
- While Singapore Exchange, Quantum M Limited and Atticus Mauritius Ltd will sell their entire stake in the bourse, other entities would partly dilute their holdings
- Singapore Exchange holds a 4.7 percent stake in BSE while Quantum M Ltd and Atticus Mauritius have 3.7 percent stake each
- Domestic institutional investors like LIC and SBI have chosen not to sell shares as part of the public issue
- Both entities hold 4.7 percent in BSE
- BSE is the oldest stock exchange in Asia
- It was established in 1875
- Public issue comprises INR 2.99 crores shares on offer.
- Exchange becomes the second in India to be listed after Multi Commodity Exchange of India
- For the financial year closing 31st March 2016, BSE reported a net profit of INR 159.15 crore
- Its biggest rival is the National Stock Exchange which has also initiated the process to get listed
