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POST TIME: 5 September, 2018 00:00 00 AM
Strategic partner of DSE
Chinese consortium starts journey thru settlement of transaction
BSS

Chinese consortium starts journey thru settlement of transaction

The Chinese consortium of the Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) yesterday started its journey in Bangladesh as a strategic partner of the Dhaka Stock Exchange (DSE) after receiving 25 percent shares, reports BSS.

“Today, the consortium has become the strategic shareholder of the DSE through settlement of the transaction (payment of share purchase price to DSE and credit of the shares to the consortium members’ BO Accounts) as per the Share Purchase Agreement (SPA) singed earlier,” said DSE Chairman Professor Dr Abul Hashem at a press conference at the Sonargaon Hotel in the capital yesterday.

On behalf of the Consortium, he said, Deputy Director-general of the SSE IT Management Committee Xie Wenhai has been nominated to serve as a member of the Board of Director of DSE.

DSE Managing Director KAM Majedur Rahman conducted the press conference while DSE directors and SSE Macao and Taiwan Affairs Director for the HongKong Office Liu Fuzhong were also present on the occasion.

Majedur Rahman said the Chinese consortium has started their journey in Bangladesh as a strategic partner of the DSE which will help further developing of the country’s share market.

Liu Fuzhong said Bangladesh is a good friend of China and the Chinese

entrepreneurs are investing in various projects in Bangladesh.

He expressed keenness to expand their investments in the country’s Information Technology (IT) and infrastructure development sectors.

On 14th May 2018, DSE signed the SPA with the consortium of Shenzhen Stock Exchange and Shanghai Stock Exchange, two leading exchanges in the world, where the consortium would take up 25 per cent stake of DSE as strategic investor.

In this strategic partnership, the consortium will advance long-term cooperation in key areas such as technology, market cultivation, and product development in an orderly manner to achieve higher-quality growth of the market and the economy.

DSE firmly believes that materialization of this cooperation will contribute to take forward the business of DSE and Bangladesh capital market into a growth path and assist DSE in its transformational journey to becoming an international grade stock exchange.