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7 February, 2018 00:00 00 AM
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TECHNICAL BENEFITS AND ADVISORY SUPPORT

DSE likely to tie up with China bourses

Staff Reporter
DSE likely to tie up with China bourses

Dhaka Stock Exchange (DSE) is going to tie-up with Chinese Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE), as strategic investors by selling each of the shares at the price of Tk 22. The consortium will buy 25 per cent of the share of DSE.

Besides, the consortium will provide technical assistance of $37 million to DSE, Mohammod Zahirul Islam vice president of Bangladesh brokerage association who is also member of the DSE told The Independent yesterday.

 The disclosure came out after the opening of the bid document for the strategic partners.  According to the source the second bidder was a consortium consisting of the National Stock Exchange, Nasdaq and Frontier that proposed to buy 25.01 per cent share at Tk 15. Besides, they will also provide technical support to DSE.

However, the Shanghai Stock Exchange and the Shenzhen Stock Exchange are offering the higher rates are likely to get the chance for investment.     

According to the 2013 Demutualization Act, the strategic investor will be any local or foreign stock exchange or the investment management company or the investment bank or any reputable financial institution approved by the regulatory body.  

The main goal to get a strategic investor is to have better technical benefits and advisory support for better management and business development.       

DSE will have to negotiate to sell 25 per cent share to strategic investors and member organisations. The owners of the brokerage house will have the ownership of 40 per cent share of the stock exchange. The remaining 35 per cent shares will be sold later to the general investors through the initial public offering (IPO).

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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