Jul
13
No Exit for Investors as India Dithers on Stock Exchanges’ IPOs
By
Toronto-based Caldwell Securities Ltd. chose India over China in 2007, buying about 5 percent of what was then the Bombay Stock Exchange. Eight years later, Chairman Thomas Caldwell is frustrated because he has few exit options.
The 140-year-old bourse, now renamed BSE Ltd., and its younger rival, the National Stock Exchange of India, haven’t yet sold shares to the public. Policy makers have long viewed the bourses as public utilities to promote an equity culture in the world’s second-most populous nation rather than as a business…
No Exit for Investors as India Dithers on Stock Exchanges’ IPOs
