KSE eyes Shanghai bourse for cooperation
By Wang Yanlin |
December 7, 2012, Friday
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Print Edition
Print Edition
THE Karachi Stock Exchange seeks strategic investors to help in its privatization and hopes to cooperate with the Shanghai Stock Exchange in areas of mutual interest, top executives of the Pakistani bourse said on their first visit to the city yesterday.
"The Karachi Stock Exchange is much smaller in size compared with the Shanghai Stock Exchange although we have a longer history," said KSE's chairman Muneer Kamal. "There is a lot to learn from Shanghai as the capital market here has grown so rapidly to become one of the world's largest in 20 years.''
Kamal said the two bourses discussed cooperation in seeking strategic investors as KSE is considering the privatization of 40 percent of the exchange.
Officials of the bourses also talked about cross-listing of shares and allowing Chinese investors to purchase shares in Karachi. Kamal said he would also meet some fund managers in Shanghai to gauge the enthusiasm among Chinese investors about investing the KSE.
"There is no hurdle in Pakistan for foreign investors to buy our shares," Kamal said.
KSE's managing director Nadeem Naqvi said that as the KSE is among the world's best performers so far this year, investing in shares listed on the exchange allows Chinese investors diversify their portfolio.
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