The signing ceremony of the Share Purchase Agreement of PSX’s Equity Stakes was held on January 20, 2017 in Karachi by the consortium and the Divestment Committee of Pakistan Stock Exchange (PSX). The consortium is consisted of China Financial Futures Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange, China Pakistan Investment Company Limited and Pakistan Habib Bank. Pakistan Finance Minister Senator Ishaq Dar, Chairman of the Securities and Exchange Commission of Pakistan Zafar Hijazi and Chinese Ambassador to Pakistan Sun Wei Dong attended the ceremony. Chairman Liu Shiyu of China Securities Regulatory Commission sent a congratulation letter to the ceremony.
According to the Share Purchase Agreement, the consortium will get 40% of the total equity stakes in PSX, among which 30% will be held by the three Chinese exchanges. Next, the consortium will carry out reforms under the Pakistan’s Stock Exchanges Act (2012), such as fully consolidating PSX’s efforts in developing a multi-tiered stock market, bond market and derivatives market, advancing technical development, promoting investor awareness and strengthening investor protection, to boost the faster and better development of PSX and the overall capital market.