George Soros, billionaire investor
US BILLIONAIRE investor George Soros has bought a four per cent stake in the Bombay Stock Exchange for almost $35m (£22.60), a source familiar with the matter said today.
Soros’s Quantum hedge fund took the stake in Asia’s oldest exchange from Dubai Financial, part of state-run Dubai Holdings which is owned by Emirates ruler Sheikh Mohammed bin Rashidal-Maktoum, the source said.
Soros paid Rs375 ($8.02/£5.18)-Rs380 ($8.13/£5.25) per share, the source told reporters.
The Bombay Stock exchange spokesman declined to comment on the issue.
There is growing interest in the thriving BSE as India’s economy goes from strength to strength, with the latest deal valuing the exchange at $800m (£517m).
The BSE lists nearly 5,000 companies, including blue-chips Reliance Industries and software exporter Infosys Technologies.
Foreign investors hold a nearly 30 per cent stake in the BSE - which was founded in 1875 - including the Deutsche Boerse and Singapore stock exchange, which each have five per cent.
US-based philanthropist George Kaiser also holds a four-per cent stake in the BSE through his investment firm Argonaut Ventures.
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