MUMBAI, March 6 NYSE Euronext has
launched the sale of its 4.8 percent stake in the
Multi-Commodity Exchange of India (MCX), the country's
biggest commodity bourse, in a deal that could raise up to $46
million, a source with direct knowledge said.
The transatlantic exchange operator is selling 2.44 million
MCX shares in a range between 1,005 rupees and 1,026 rupees a
share, said the source who requested anonymity as he was not
authorised to speak to the media.
The price range represent a discount of 3-5 percent from
MCX's Wednesday close price of 1,058 rupees.
At the top end of the price range, NYSE Euronext will raise
about $46 million. The deal will be executed in the stock market
on Thursday morning.
Citigroup is the sole banker on the deal, said the
NYSE Euronext said last month it would shed its stake in
Mumbai-based MCX, after its focus on cutting costs amid a
lacklustre trading environment helped it beat profit
expectations for the fourth quarter.