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Chinese consortium to be DSE’s strategic investor

Deal on Monday

WT24 Desk

Dhaka Stock Exchange (DSE) is set to sign an agreement tomorrow to make the Chinese consortium of Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) a strategic investor, Agencies report.

Finance Minister AMA Muhith will be present as the chief guest at the contract signing function while Bangladesh Securities and Exchange Commission (BSEC) Chairman Dr M Khairul Hossain will attend as the special guest.

Earlier, in response to a DSE offer, the Chinese consortium and the National Stock Exchange (NSE) of India placed their proposals to buy 25 percent shares of the DSE and become a strategic investor.

DSE took the decision to sell its 25 percent shares to the Chinese consortium of SSE and SZSE as part of its demutualization scheme.

According to the 2013 demutualization scheme, 25 percent shares of the Dhaka Stock Exchange Limited will be sold to strategic partners, 35 percent to small investors while 40 percent will be with the Trading Right Entitlement Certificate(TREC) holders.

The DSE wants to include strategic partners in it in order to get advanced technological facilities, and consultancy services for management and business development.

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