Karachi Stock Exchange looks for Chinese investment

The Karachi Stock Exchange is looking for Chinese investment, its chairman said in Shanghai recently.

"We are considering privatizing 40 percent of the KSE and we are looking for strategic investors," said Chairman Muneer Kamal, after he met top executives of the Shanghai Stock Exchange last week.

They talked about possibilities for closer cooperation, including strategic investments and cross listings.

"There is a lot to learn from Shanghai, as the market here grew so rapidly and became one of the world's largest in 20 years," Kamal said.

Nadeem Naqvi, managing director of the Karachi Stock Exchange, said that the exchange is in the process of changing from an old way of thinking into a new modern way.

Pakistan's benchmark KSE 100 Index rose 7.3 percent in the last three years, and is among the top gainers among 72 markets worldwide, according to the Bloomberg Riskless Return Ranking.

Zhu Lingqing contributed to the story.

xieyu@chinadaily.com.cn