NYSE Euronext plans to sell entire stake in MCX for $45 mn
NYSE Euronext plans to sell its entire 4.79 percent stake in India's premier commodity bourse MCX for about USD 45 million (Rs 246 crore).
New Delhi: NYSE Euronext plans to sell its entire 4.79 percent stake in India's premier commodity bourse MCX for about USD 45 million (Rs 246 crore).
Investment banking Sources said that NYSE Euronext will be offloading little over 24.42 lakh shares of MCX, amounting to 4.79 percent stake.
The sale, through secondary market, could happen as early as tomorrow, they added.
Shares are likely to be sold in the price range of Rs 1,005.10 - 1,026.25 apiece. At the higher end of the price band, the sale could fetch around Rs 250 crore.
According to sources, the sale is part of NYSE Euronext efforts to monetise non-strategic assets.
NYSE Euronext is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the US trade equities, futures, options, fixed-income and exchange-traded products.