SGX to announce deal soon

WINDS OF CHANGE BLOW ACROSS INDIAN STOCK EXCHANGES

After clinching the deal with the Deutsche Borse for offloading 5 per cent stake, the Bombay Stock exchange is understood to have finalised its plans to have Singapore Stock Exchange (SGX) as its second foreign partner.

According to a source close to development, the decision will be taken in a few days. The stake will be sold at a similar consideration of Rs 5200 a share as in the case of Deutsche Borse.

This sale is a part of the corporatisation plan of the BSE, which is planning to divest 51 per cent holding. The objective of having a strategic foreign partner is aimed at developing BSE's technological knowhow in derivatives trading.