India’s National Stock Exchange (NSE) is expected to decrease its interest in the National Commodity and Derivatives Exchange (NCDEX), The Wall Street Journal reports. NSE, which currently owns 11.1% of the commodity bourse, will slash its share-holding due to a recently introduced rule.
Following NSE’s inability to dilute its stake, the government had extended the deadline from March 31 to the end of June. This may now be extended to September. NSE is considering an Oman government-owned sovereign wealth fund and a hedge fund to offload a 6.1% holding in the NCDEX.
Click here for the story from The Wall Street Journal.