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The country’s largest commodity bourse MCX has diluted its stake to 3.4 per cent from the existing 5 per cent in the Dubai Gold and Commodities Exchange (DGCX) through rights issue option.
Multi Commodity Exchange held 10 per cent stake in DGCX when it began operations in 2005 and later reduced it to 5 per cent.
“The stake of MCX in DGCX, got diluted from 5 per cent to 3.4 per cent of the paid-up capital of DGCX in July 2013 due to a rights issue by DGCX,” MCX said in a filing to the BSE today.
Except for the change in the shareholding percentage of MCX, there has been no other change for the exchange.
MCX is promoted by Financial Technologies India Ltd (FTIL), which currently holds 39 per cent stake in DGCX. FTIL is a co-promoter in Dubai-based bourse.
MCX shares were trading up by 4.58 per cent to Rs 399.90 a piece on the BSE in the afternoon trade.
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