Soros buys stake in BSE for $34m
Mumbai, Aug. 20: Billionaire financier, Mr George Soros, has bought a four per cent holding in Bombay Stock Exchange (BSE) for about $35 million, two sources with direct knowledge of the deal told Reuters on Friday, valuing the bourse at around $875 million.
Soros’ Quantum hedge fund acquired the stake in Asia’s oldest exchange from Dubai Financial, part of sovereign fund Dubai Holding, the sources said.
The sources declined to be named as they were not authorised to speak to the media before an expected formal announcement.
A spokesman at Bombay Stock Exchange, however, declined to comment, while officials at Quantum and Dubai Financial could not be immediately reached for a comment.
In May, Canadian fund manager Urbana Corp had bought 331,000 shares in the exchange at Rs 370 a share, raising its holding to 2.6 per cent.
US-based philanthropist, Mr George Kaiser, also holds around four per cent of the exchange through his investment firm Argonaut Ventures.
Other major global shareholders in the Mumbai-based oldest exchange founded in 1875 include Deutsche Boerse and Singapore Stock Exchange, both of which have five per cent each.
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