A Chinese-led consortium received approval from the Securities and Exchange Commission of Pakistan (SECP) to acquire a 40 percent stake in the Pakistan Stock Exchange, one of the best performing markets in Asia this year, Pakistani media reported on Wednesday.
The deal is valued at 85 million U.S. dollars and the signing ceremony will be held in January 2017.
The consortium comprises three Chinese exchanges -- China Financial Futures Exchange Co., the Shanghai Stock Exchange and the Shenzhen Stock Exchange -- and two local financial institutions, namely Pak-China Investment Co. and Habib Bank.
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