The Hindu Business Line : NYSE completes MCX deal

NYSE Euronext (NYX) has completed the acquisition of five per cent equity stake in the Multi Commodity Exchange (MCX) from the promoter Financial Technologies. In February, NYX through its affiliate Euronext NV signed an agreement to buy the stake at Rs 220 crore, valuing the exchange $1.1 billion. The share and fund transfer has been completed at Rs 599 per share on RBI and FIPB approval, MCX said in a press release.

Mr Jignesh Shah, chairman and CEO, Financial Technologies Group and Vice-President, MCX, "The strategic partnership demonstrates how we plan to work together with global partners like NYSE Euronext to create one of the largest global exchange networks across the fast growing economies of the world," said. Financial Technologies has received SEBI approvals to tap the capital market with an initial public offer of one-crore shares of Rs 5 each for cash. The issue is expected to be priced at Rs 500 and 600 per share, thus raising Rs 500 crore to Rs 600 crore, said an analyst. - Our Bureau

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