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Wednesday, Oct 15, 2008
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Money & Banking - Mergers & Acquisitions
RMoney picks up 15% in HKMEx

Our Bureau

Mumbai, Oct. 14 Reliance Money has picked up 15 per cent stake in the yet-to-be launched Hong Kong Mercantile Exchange for an undisclosed amount.

HKMEx proposes to start trading in the first quarter of 2009 and will kick-start its operations by offering dollar-denominated oil contracts.

Reliance Money has recently received approval from the Forward Markets Commission and the Ministry of Consumer Affairs for acquiring 10 per cent stake in domestic NMCE. It plans to up this stake to 26 per cent.

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Depressed earnings for Orbit Corporation
RMoney picks up 15% in HKMEx
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Unwinding of long positions seen on Nifty
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Oil India awaits Govt nod for IPO




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