The Financial Express

DSE, Chinese consortium ink share purchase deal

| Updated: May 15, 2018 11:24:16

DSE, Chinese consortium ink share purchase deal

Dhaka Stock Exchange (DSE) has signed an agreement with the Chinese consortium of Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) to make the consortium a strategic partner.

The share purchase agreement was signed on Monday at the Le Meridien Hotel in Dhaka, reports BSS.

Finance Minister AMA Muhith attended the contract signing ceremony as the chief guest.

Bangladesh Securities and Exchange Commission (BSEC) Chairman Dr M Khairul Hossain was present as the special guest.

DSE Managing Director K A M Majedur Rahman signed the agreement on behalf of the premier bourse.

On the other hand, Wang Jianjun; president and CEO of Shenzhen Stock Exchange, and Pan Xuexian; chair of supervisory of Shanghai Stock Exchange, signed the agreement on behalf of the Chinese exchanges.

DSE Chairman Professor Dr Abul Hashem presided over the function.

While addressing the ceremony, the finance minister said the agreement will play a important role to develop the stock market of Bangladesh.

Citing the success and expertise of Chinese exchanges, Muhith said the authorities concerned should follow their speed and let make a difference in the country's stock exchanges.

M Khairul Hossain said, they have taken a series of reforms for the betterment of stock market in last few years.

"As a result, stock markets are now more transparent and accountable to investors and stakeholders," he added.

He hoped that partnership with the Chinese consortium will contribute significantly to the development of stock market.

As per the agreement, the Chinese consortium will hold 25 per cent or above 450.94 million shares of DSE.

The consortium will purchase the DSE's shares at a price of Tk 21 each.

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