28 Oct 2008

Offer for South African stock exchange

12:40 pm on 28 October 2008

A South African stock exchange in which the New Zealand Stock Exchange is an investor, is the subject of an unexpected takeover offer.

The NZX became the largest shareholder in the Bond Exchange after it acquired 22% of its shares earlier this month.

The board of the South African exchange has now received a takeover from the Johannesburg Stock exchange, offering nearly a quarter more than the amount paid by NZX.