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Caldwell Pays $39.4 Million for Stake in Bombay Stock Exchange

Caldwell Pays $39.4 Million for Stake in Bombay Stock Exchange
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First Published: Thu, May 17 2007. 08 48 AM IST
Updated: Thu, May 17 2007. 08 48 AM IST
By John Kipphoff, Bloomberg
Toronto: Companies associated with Toronto money manager Thomas Caldwell bought a 4% stake in closely held Bombay Stock Exchange Ltd.
Caldwell India Holdings Inc., a Mauritius-based holding company, paid C$43.5 million (Rs 162 crore) for the stake in Asia’s oldest bourse. The Toronto-based company led by Caldwell said it contributed C$26.5 million for the shares.
Caldwell, 63, has invested in bourses before they go public, including the Toronto Stock Exchange and the New York Stock Exchange. The Bombay exchange, based in Mumbai, last month sold a 51% stake, a third of which went to overseas investors.
Urbana, a publicly traded investor in stock exchanges, led a group of companies and funds that bought a total of 308,888 shares in the Bombay exchange, said Brendan Caldwell, chief executive officer of Caldwell Investment Management Ltd.
Shares of Urbana advanced 44 cents, or by 14%, to C$3.55 in trading on the Toronto Stock Exchange. It’s the biggest gain since 9 November.
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First Published: Thu, May 17 2007. 08 48 AM IST
More Topics: Money Matters | Derivatives |