In order to internationalise the listing businesses and have a global presence, Asia?s oldest stock exchange The Bombay Stock Exchange (BSE) has entered into a cooperation agreement with Deutsche B?rse to offer potential Indian issuers a listing platform in order to address Indian and European investors for implementing cross border financing objectives.
In the coming days, they will begin to approach European companies to raise funds from India. Speaking to FE, Mahesh Soneji, chief operating officer (COO), BSE, said, ?Within few days, we will start approaching European companies to raise funds from India and list their companies in BSE. We will also provide Indian companies seeking listings in Europe with information and advice and help them prepare for an IPO at Deutsche B?rse. They have also approached several companies in India to raise funds from Europe.?
Following these agreement, Indian issuers can meet the European investor base on various occasions like the German Equity Forum or international road shows with globally operating investors hosted by Deutsche B?rse. Soneji also added that all the companies whether European or Indian they have to abide by the financial regulations of the countries they are raising the funds.
Currently, Deutsche B?rse along with Singapore Exchange (SGX) holds 5% stake each in the BSE. In October 2008, the Securities & Exchange Board of India (Sebi) had increased the ceiling from 5% to 15% for strategic long-term investors in stock exchanges.
Rainer Riess, managing director cash market development at Deutsche B?rse, said, ?The cooperation agreement governing joint listing activities between Deutsche B?rse and the BSE is a further step in our long-term commitment to work together with the BSE.
Like this, Deutsche B?rse is continuing to expand its activities in India in order to reinforce its existing business relationships and seize new opportunities.?
Senior officials from BSE, on condition of anonymity, said, ?In the next few weeks we might also see more measures from both the exchanges, to promote listings and data disseminations to gain global reach and attention.?
Deutsche B?rse Group is one of the world?s leading stock exchanges that provides investors, financial institutions and companies access to global capital markets.
Its business covers the entire process chain from securities and derivatives trading, clearing, settlement and custody, through to market data and the development and operation of electronic trading systems.
The exchange is known for its technological strengths and was roped in as a strategic partner for this purpose by BSE.