Chinese consortium takes 25pc stake in Bangladesh bourse

Business | 15 May 2018 1:06 pm

A Chinese consortium comprising the Shenzhen Stock Exchange and the Shanghai Stock Exchange yesterday signed an agreement with Bangladesh's Dhaka Stock Exchange to acquire 25 percent stake in the bourse.

The Bangladesh Securities and Exchange Commission recently approved DSE's proposal to sell 25 percent of its stake to the Chinese consortium, Xinhua reports.

The BSEC approved the DSE's strategic partnership, fixing each of 450,944,125 shares at a price of 21 taka (US$0.25), the regulator said on its website.

DSE's hunt for a strategic partner came as it turned into a demutualized stock exchange on Nov. 21, 2013.

SZSE and SSE received DSE's tender invitation in July 2017.

The bidding process also involved Indian, U.S. and Turkish exchanges.

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