Chinese consortium's proposal to buy stake in Bangladesh's biggest stock exchange approved

Updated 2018-05-04 10:13:04 Xinhua

A Chinese consortium's bid to acquire 25 percent stake in Bangladesh's biggest stock exchange and become its strategic partner has been approved by the country's securities regulator.

BSEC (Bangladesh Securities and Exchange Commissions) in a meeting on Thursday approved the proposal of the Dhaka Stock Exchange (DSE) to sell its 25 percent stake to the Chinese consortium, comprising the Shenzhen Stock Exchange and the Shanghai Stock Exchange.

The BSEC approved the Dhaka Stock Exchange's strategic partnership, fixing each of 450,944,125 shares at a price of 21 taka (0.25 U.S. dollars), including a premium of 11 taka for a 10-taka share, the regulator said on its website Thursday.

According to the securities regulator, an agreement in this connection must be signed in line with Bangladesh's laws and implemented in one year from the signing of the deal.

DSE's hunt for a strategic partner came as it turned into a demutualized stock exchange on Nov. 21, 2013. The DSE in June last year floated tender and received proposals including those two Chinese and Indian consortiums.

A DSE official had earlier told Xinhua that in consideration of all the aspects the proposal of the Chinese consortium was the best offer in terms of value and technical support.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58April 19 2019 12:56:56

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16April 19 2019 12:56:56

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18April 19 2019 12:56:56

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords