China’s Chongqing Casin Enterprise to acquire Chicago Stock Exchange

A group of investors led by China’s Chongqing Casin Enterprise Group is set to buy the Chicago Stock Exchange (CHX), it emerged last week. The move would give  CHX access to the funding it requires to upgrade its listings programmes, its CEO John Kerin explained.
“They like our strategy, and they want us to continue to execute on it,” he said. The 134-year old bourse – one of the oldest in the US – plans to seek approval to list companies that want to access capital markets but may not meet the standards of Nasdaq Inc or Intercontinental Exchange Inc’s New York Stock Exchange.
The Casin Group is a privately held investment company that specialises in real estate development and financial holdings, one of  whose long-term objectives is  to list Chinese companies in the United States. It is also considering setting up an equities exchange in Chongqing in Southwest China using CHX’s model and technology, Kerin added.

Source: reuters