Photo: BloombergMumbai: Singapore Exchange Ltd (SGX) has put up its entire 5% stake up for sale in the upcoming initial public offering (IPO) by BSE Ltd, seeking to make a complete exit from Asia’s oldest stock exchange, said two people familiar with the matter. The share sale is expected to raise Rs.1,300 crore, Mint reported in May. On 30 August, Bloomberg reported that the German exchange was unlikely to increase its stake in BSE before its IPO despite the government’s recent relaxation of ownership rules. On 14 March, the bourse received in-principle approval from the Securities and Exchange Board of India (Sebi) for an IPO. The exchange also said it would file documents in January for an IPO that would give an exit opportunity to its institutional investors.

Source: Mint September 06, 2016 19:52 UTC