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The Financial Express

NSE expresses interest to be strategic partner of DSE

| Updated: January 22, 2018 11:37:25


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National Stock Exchange of India (NSE) has expressed its interest to be strategic partner of the Dhaka Stock Exchange (DSE), according to officials of the securities regulator.

A NSE delegation expressed their interest at a meeting held in last week with top officials of the Bangladesh Securities and Exchange Commission (BSEC).

The NSE delegation led by led by Vikram Limaye, managing director & CEO of NSE, held a meeting with the BSEC chairman and commissioners.

"The delegation met with BSEC chairman Dr. M Khairul Hossain in this regard to investing in DSE shares as a potential strategic investor," said professor Helal Uddin Nizami, a BSEC commissioner.

He said the NSE and Dhaka Stock Exchange (DSE) would discuss respective issues regarding partnership with the premier bourse.

Along with NSE delegation, managing director of Brummer & Partners Anders Stendebakken and managing director of Nasdaq (Asia Pacific) Pvt Ltd Robert Frojd, a consortium member of NSE India, were present at the meeting held at the office of the securities regulator, According to BSEC commissioner Mr. Nizami.

He said commissioners of the securities regulator were also present in the discussion meeting.

The country's premier bourse DSE turned into a demutualised stock exchange on November 21, 2013.

According to the demutualised scheme, the DSE consists of above 1.80 million shares of Tk 10 each totaling above Tk 18.03 billion as paid-up capital of the entity.

As per the demutualisation scheme, the DSE will have to float its 25 per cent shares to strategic investors.

On December 9, 2015, the securities regulator directed the DSE to get strategic investor within a year as per the Demutualisation Act, 2013.

The commission later extended the deadline to March 31, 2018 following a plea from the DSE.

A number of foreign financial organisations and local firms earlier showed interest in investing in the DSE to become its strategic investors.

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