Chinese consortium signed a deal to acquire a 25% stake in Bangladesh’s major exchange

Beijing. May 16. Silkroadnews - A Chinese consortium comprising the Shenzhen Stock Exchange (SZSE) and the Shanghai Stock Exchange (SSE) signed an agreement with Bangladesh’s Dhaka Stock Exchange (DSE) to acquire 25 percent stake in the country’s premier bourse and became its strategic investor., Ecns.cn portal reports.
According to the regulator’s website, the Bangladesh Securities and Exchange Commission of (BSEC) has recently approved a DSE offer to sell 25% of its stake to the Chinese consortium, setting the cost of each of 450,944,125 shares at a price of 21 taka ($0.25).
Interest in DSE as a strategic partner arose when the exchange became a demutualized stock exchange on November 21, 2013.
SZSE and SSE received a tender invitation from DSE in July 2017.
Earlier, the representative of DSE said that, taking into account all the aspects, the proposal of the Chinese consortium was the best offer in terms of both value and technical support.
Indian, American and Turkish stock exchanges also took part in the bidding process.
Founded in 1954, DSE is the main exchange of Bangladesh. By the end of 2017 it included 303 listed companies with a market capitalization of $44 billion.