Business
Soros Buys Into Bombay Stock Exchange
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Billionaire George Soros’ Quantum hedge fund has purchased a 4 percent stake in the Bombay Stock Exchange for $32 million.
The deal values Asia’s oldest exchange, with 4,990 listed companies with a market capitalization of $1.4 trillion, at $800 million. Last May, Singapore’s sovereign wealth fund, Temasek, acquired a 5 percent stake in the competing National Stock Exchange of India for $175 million. Indian law restricts foreign investors from holding more than 5 percent in an exchange. |
