BSEC wants valuation report on strategic partner from DSE
The consortium bought 45 crore shares of the DSE at Tk22 each
The stock market regulator has asked the Dhaka Stock Exchange to submit a technical and financial evaluation report on a foreign strategic partner's agreement.
Bangladesh Securities and Exchange Commission (BSEC) has issued a letter to the premier bourse in this regard last week.
Earlier in May 2018, a Chinese consortium of Shenzhen Stock Exchange and Shanghai Stock Exchange bought a 25% stake of DSE as the strategic partner required by the demutualisation scheme.
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The consortium bought 45 crore shares from the DSE at Tk22 each, for which the DSE members got around Tk947 crore in total.
The consortium offered to establish an electronic platform for listed firms, analytics tools, and an online complaint portal.
Besides, they also offered to provide a trade-matching engine and surveillance software to the bourse after the existing agreement expires.
In early January this year, the BSEC instructed the stock exchanges to submit reports on their achievements of demutualisation objectives and initiatives.
The stock exchanges were also directed to appoint auditors to conduct a special audit within the next 30 working days.
