Business Desk :
Chittagong Stock Exchange (CSE) is looking for strategic partners in China, the United Arab Emirates (UAE) and Hong Kong to sell 25 percent of its total paid up capital by December, as part of a regulatory requirement.
“We are working very hard to take strategic partners within the stipulated time for expediting the country’s capital markets. This will benefit the strategic partners and us too,” CSE Chairman Dr AK Abdul Momen told journalists after a meeting with Finance Minister AMA Muhith at secretariat in the city on Thursday.
Among others, CSE Shareholder Director Major (Rted) Emdadul Islam, Independent Director Professor Mamtaz Uddin Ahmed and Managing Director M Shaifur Rahman Mazumdar were present at the meeting.
Abdul Momen said they discussed various issues, including development of the country’s capital markets, especially the CSE and the strategic partner.
“We can also take the local companies as the strategic partners. We think that if we can take strategic investors, the position of CSE will be better,” he added.
Shaifur Rahman Mazumdar said the total paid up capital of CSE is US$80 million and the CSE can transfer maximum $20 million to the strategic partners. But the total amount will depend on share prices, he added.
Emdadul Islam said, “We will have to finalize the deal by the next December. We will take the partners from among the highest and experienced bidders. If we get appropriate investors, we will sign deals before December.”
Chittagong Stock Exchange (CSE) is looking for strategic partners in China, the United Arab Emirates (UAE) and Hong Kong to sell 25 percent of its total paid up capital by December, as part of a regulatory requirement.
“We are working very hard to take strategic partners within the stipulated time for expediting the country’s capital markets. This will benefit the strategic partners and us too,” CSE Chairman Dr AK Abdul Momen told journalists after a meeting with Finance Minister AMA Muhith at secretariat in the city on Thursday.
Among others, CSE Shareholder Director Major (Rted) Emdadul Islam, Independent Director Professor Mamtaz Uddin Ahmed and Managing Director M Shaifur Rahman Mazumdar were present at the meeting.
Abdul Momen said they discussed various issues, including development of the country’s capital markets, especially the CSE and the strategic partner.
“We can also take the local companies as the strategic partners. We think that if we can take strategic investors, the position of CSE will be better,” he added.
Shaifur Rahman Mazumdar said the total paid up capital of CSE is US$80 million and the CSE can transfer maximum $20 million to the strategic partners. But the total amount will depend on share prices, he added.
Emdadul Islam said, “We will have to finalize the deal by the next December. We will take the partners from among the highest and experienced bidders. If we get appropriate investors, we will sign deals before December.”
