KARACHI: The Pakistan Stock Exchange is to sell 40 per cent stake next week, a PSX official said on Friday, citing Chinese and British consortia as among the prospective buyers.

At least 17 entities have expressed their interest in the PSX, whose benchmark stock index has been one of the best performing indices worldwide this year, gaining 38pc so far.

The PSX is currently owned by more than 300 Pakistani brokers.

“We are opening bidding for the 40pc share of the PSX on Dec 15,” Shahzad Chamdia, chief of the PSX divestment committee, said.

Analysts estimate the deal will be worth around $225 million, but the committee declined to comment.

Sources at the PSX said a consortium consisting of the Shanghai Stock Exchange, Shenzen Stock Exchange and a Chinese fund was bidding, as well as another consortium of UK financial institutions led by NASDAQ Technology.

Published in Dawn, December 10th, 2016