Business

KARACHI (Web Desk) – Pakistan plans to sell a 40 percent stake in its stock exchange in the coming months.

While addressing an investment conference organised by Renaissance Capital in London, Pakistan Stock Exchange (PSE) Managing Director (MD) Nadeem Naqvi said that the country plans to sell a 40 percent stake in the PSE in coming months, adding that Turkey’s Borsa Istanbul has expressed interest in the buy-out.

The sale will happen at the end of this year or in early-2017, Naqvi added. He further said that he would launch an official process over the next two weeks to invite expressions of interest from potential investors. He said that he had already reached out to the London, Shanghai, Turkish and Qatar stock exchanges, he added.

He added that only Borsa Istanbul had responded to the invitations of interest so far.

The stake sale will be followed up with a listing of a further 20 percent of stock exchange shares in the domestic market, Naqvi added.