DHAKA: Bangladesh has said it will sell 25 per cent stakes in the Dhaka Stock Exchange (DSE) to a Chinese consortium, rejecting a rival bid from India's National Stock Exchange, Nasdaq of the US and others.
Bangladesh's premier bourse directors had decided to accept the Chinese consortium's proposal on February 10 as it looked acceptable to them considering financial and technological aspects, bdnews24 reported on Tuesday.
They gave the final nod to the proposal by the consortium of Shenzhen Stock Exchange and Shanghai Stock Exchange at a meeting of the board last evening, the DSE Managing Director KAM Majedur Rahman told reporters here.
They would "soon" send the proposal to the regulators, the Securities and Exchange Commission or SEC, for endorsement, he added.
Shanghai and Shenzhen stock exchanges are among the top bourses in the world boasting $3.5 trillion and $2.2 trillion market capital, respectively.
The market capital of the DSE is over $51.42 billion.
A DSE official earlier said that the Mumbai-based National Stock Exchange had offered 15 taka ($0.18) per share to buy 25.1 per cent shares of the DSE.
Officials said the Chinese consortium has proposed buying 25 per cent stakes into the DSE for Tk 9.9 billion ($122 million) at Tk 22 per share. In its proposal, the consortium mentioned it will spend over Tk 3 billion ($37 million) to give the DSE a technological upgrade.
Abcd - 5 days ago
Ha....ha.......China won again. Why Hindu dogs always lost ? Bangladesh is created on India''s land and soil.
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Shui - Singapore - 4 days ago
another clap on india face. haha understandable. why India so hate china. u lose the war. u lose the economy. u lose the technologies. u lose the infrastructure. u lose the toilet. u lose China biggest trading partners. u lose to democratic. u lose the space. u lose the neighbor. u lose arm manufacturing. u lose yours rifles and tank. and u lose Chinese spent power in the world. u lose china IQ. u lose Olympic medal nil.. can only win cricket on China.
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Abcd - 5 days ago
Only idiots think no need to pay a price to win something. Even buy a burger needs to pay.
Reply 0 0 Flag
Godfather Senior - 5 days ago
Millions or even billions must have changed hands !