Economic Reporter :
The members of the Dhaka Stock Exchange (DSE) on Monday unanimously approved the proposal of a Chinese consortium, comprising the Shenzhen Stock Exchange and the Shanghai Stock Exchange, to become the strategic partner of the bourse.
In the 8th Extraordinary General Meeting of the DSE, the country’s prime bourse, decided to sell 25 percent or 45 crore 9 lakh 44 thousand and 125 general shares (in block account) to the strategic partner and approved technical and financial proposal of the consortium, said a DSE media release.
DSE chairman Prof Dr Abul Hashem presided over the meeting held at Jalsabhar of Purbani Hotel.
Earlier, the Bangladesh Securities and Exchange Commission (BSEC) instructed the DSE to send a revised proposal to it upon receiving consent from the members on the issue.
DSE will now send the revised proposal to the regulator. BSEC had earlier sent back the proposal raising questions about some legal aspects of the previous bid. It instructed the DSE to send the revised proposal after getting the approval from the DSE members.
DSE has been trying to get a strategic partner in line with the Demutualisation Act 2013.
As per the Act, existing shareholders, known as trading right entitlement certificate-holders or TREC-holders, will retain 40 percent shares of the exchange.
The members of the Dhaka Stock Exchange (DSE) on Monday unanimously approved the proposal of a Chinese consortium, comprising the Shenzhen Stock Exchange and the Shanghai Stock Exchange, to become the strategic partner of the bourse.
In the 8th Extraordinary General Meeting of the DSE, the country’s prime bourse, decided to sell 25 percent or 45 crore 9 lakh 44 thousand and 125 general shares (in block account) to the strategic partner and approved technical and financial proposal of the consortium, said a DSE media release.
DSE chairman Prof Dr Abul Hashem presided over the meeting held at Jalsabhar of Purbani Hotel.
Earlier, the Bangladesh Securities and Exchange Commission (BSEC) instructed the DSE to send a revised proposal to it upon receiving consent from the members on the issue.
DSE will now send the revised proposal to the regulator. BSEC had earlier sent back the proposal raising questions about some legal aspects of the previous bid. It instructed the DSE to send the revised proposal after getting the approval from the DSE members.
DSE has been trying to get a strategic partner in line with the Demutualisation Act 2013.
As per the Act, existing shareholders, known as trading right entitlement certificate-holders or TREC-holders, will retain 40 percent shares of the exchange.
