Billionaire investor Soros buys 4pc stake in BSE

Mumbai, Aug 20: Stock investor, businessman and philanthropist, George Soros has reportedly bought 4 per cent stake in India's premier stock exchange, the Bombay Stock Exchange (BSE).

Quoting a spokesman of the Indian bourse, the Wall Street Journal reported that Soros bought the stake through his Quantum hedge fund from Dubai Financial.

While the spokesman refused to divulge any further details, a person with direct knowledge of the matter told Dow Jones Newswires, on condition of anonymity, that Soros purchased the stake for about Rs 380 per share, valuing Asia's oldest exchange around $850 million, the report published on Friday, Aug 20 added.

At the above mentioned rate, the amount paid for the stake works out to be $34 million.

Established in 1875, BSE has more than 4,900 listed companies. The billionaire investor's purchase comes at a time when the Indian economy is enjoying a robust growth.

OneIndia News