ZCZC
BSS-26
DSE-CHINA-INVESTMENT
Chinese group becomes DSE strategic partner
DHAKA, Sept 4, 2018 (BSS) – The Chinese consortium of the Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) today started its journey in Bangladesh as a strategic partner of the Dhaka Stock Exchange (DSE) after receiving 25 percent shares.
“Today, the consortium has become the strategic shareholder of the DSE through settlement of the transaction (payment of share purchase price to DSE and credit of the shares to the consortium members’ BO Accounts) as per the Share Purchase Agreement (SPA) singed earlier,” said DSE Chairman Professor Dr Abul Hashem at a press conference at the Sonargaon Hotel in the city this afternoon.
On behalf of the Consortium, he said, Deputy Director-general of the SSE IT Management Committee Xie Wenhai has been nominated to serve as a member of the Board of Director of DSE.
DSE Managing Director KAM Majedur Rahman conducted the press conference while DSE directors and SSE Macao and Taiwan Affairs Director for the HongKong Office Liu Fuzhong were also present on the occasion.
Majedur Rahman said the Chinese consortium has started their journey in Bangladesh as a strategic partner of the DSE which will help further developing of the country’s share market.
Liu Fuzhong said Bangladesh is a good friend of China and the Chinese entrepreneurs are investing in various projects in Bangladesh.
He expressed keenness to expand their investments in the country’s Information Technology (IT) and infrastructure development sectors.
On 14th May 2018, DSE signed the SPA with the consortium of Shenzhen Stock Exchange and Shanghai Stock Exchange, two leading exchanges in the world, where the consortium would take up 25 percent stake of DSE as strategic investor.
In this strategic partnership, the consortium will advance long-term cooperation in key areas such as technology, market cultivation, and product development in an orderly manner to achieve higher-quality growth of the market and the economy.
DSE firmly believes that materialization of this cooperation will contribute to take forward the business of DSE and Bangladesh capital market into a growth path and assist DSE in its transformational journey to becoming an international grade stock exchange.
In this milestone achievement, DSE expresses its sincere gratitude to the Ministry of Finance, Bangladesh Securities and Exchange Commission, China Securities Regulatory Commission, Bangladesh Investment Development Authority, Bangladesh Bank, National Development and Reform Commission of China, parties participated in the bidding process, local and international print and electronic medias and those who extended their support and cooperation in making our efforts a remarkable success.
BSS/KUC/GA/1820 hrs