DSE wants two Chinese companies
As a strategic investor, the board of directors of the Dhaka Stock Exchange (DSE) has decided to choose a consortium consisting of China's Sengeon and Shanghai. After discussing the bids of companies interested in buying shares owned by the DSE on Monday, the company has decided to sell its shares. However, this decision will be finalized only after the final approval of the Bangladesh Securities and Exchange Commission (BSEC), the capital market regulator, Bangladesh Securities and Exchange Commission (BSEC).
Along with China's two companies, as a partner of DSE, the National Stock Exchange, Nasdaq of the United States and the Alliance of Frontier Bangladesh, the domestic coalition, are also interested in India. However, the alliance, comprising three institutions of India, the United States, and Bangladesh, was lagging behind than China's two institutions.
From the back of the price band, the alliance raises the pressure from DSE partner. There is a kind of uncomfortable situation in this regard. In this situation, the DSE took a strong position to choose China's Senjen and Shanghai in the meeting of the council yesterday.
Many directors of the DSE said on condition of anonymity that in many ways the Chinese offer is very interesting. It also proposed to provide technical support of 22 rupees for each share, as well as $ 317 million or 308 crore taka. In contrast, India, the United States, and Bangladesh, together with the three companies, have submitted proposals to buy shares at only 15 takas.
Earlier on February 10, the DSE board agreed to partner with two companies of China as a strategic investor. But after the overwhelming pressure of the backlog alliance, the situation reached a little uncomfortable level. Under this condition, the meeting was finalized by further re-evaluating the different aspects of the bidding process.
It is learned that DSE called Tender in September for selling reserved shares for the strategic investor. According to the law, the process of selling the shares will be completed to strategic investors within the time given by March 8. The Bangladesh Securities and Exchange Commission (BSEC), the capital market regulator, has set the deadline for increasing the three-point limit. There is a legal scope for this deadline under BSEICE's directive.
According to the Demutualization Act, after dividing the management from ownership, the total shares of the DSE are divided equally among 250 members. Of these shares, 40 percent of the members are separated for themselves. The remaining 60 percent of the shareholders are kept separately for sale outside. 25 percent of the 60 percent share was legalized to sell to strategic or strategic investors. The remaining 35 percent shares are legally set to be sold to ordinary investors.
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Along with China's two companies, as a partner of DSE, the National Stock Exchange, Nasdaq of the United States and the Alliance of Frontier Bangladesh, the domestic coalition, are also interested in India. However, the alliance, comprising three institutions of India, the United States, and Bangladesh, was lagging behind than China's two institutions.
From the back of the price band, the alliance raises the pressure from DSE partner. There is a kind of uncomfortable situation in this regard. In this situation, the DSE took a strong position to choose China's Senjen and Shanghai in the meeting of the council yesterday.
Many directors of the DSE said on condition of anonymity that in many ways the Chinese offer is very interesting. It also proposed to provide technical support of 22 rupees for each share, as well as $ 317 million or 308 crore taka. In contrast, India, the United States, and Bangladesh, together with the three companies, have submitted proposals to buy shares at only 15 takas.
Earlier on February 10, the DSE board agreed to partner with two companies of China as a strategic investor. But after the overwhelming pressure of the backlog alliance, the situation reached a little uncomfortable level. Under this condition, the meeting was finalized by further re-evaluating the different aspects of the bidding process.
It is learned that DSE called Tender in September for selling reserved shares for the strategic investor. According to the law, the process of selling the shares will be completed to strategic investors within the time given by March 8. The Bangladesh Securities and Exchange Commission (BSEC), the capital market regulator, has set the deadline for increasing the three-point limit. There is a legal scope for this deadline under BSEICE's directive.
According to the Demutualization Act, after dividing the management from ownership, the total shares of the DSE are divided equally among 250 members. Of these shares, 40 percent of the members are separated for themselves. The remaining 60 percent of the shareholders are kept separately for sale outside. 25 percent of the 60 percent share was legalized to sell to strategic or strategic investors. The remaining 35 percent shares are legally set to be sold to ordinary investors.
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