Dubai keen to take 40% stake in KSE

DUBAI—The interest by the Dubai stock exchange to take a 40 per cent stake in the Karachi stock exchange (KSE) when the Karachi market allows shareholding, represents a firm change for the interests of investors in Pakistan’s main stock market. The state-run Dubai stock exchange said in August it was interested in buying into the KSE but gave no details then about the size of the stake that was being sought. Under the planned acquisition, members of the Karachi stock exchange will become shareholders in the stock market once a key presidential ordinance is signed to allow the change in the ownership provisions. —Agencies