Regulator extends deal deadline

FE Report

The securities regulator extended Thursday the deadline by three months for signing share sale agreement (SSA) between Dhaka Stock Exchange (DSE) and its strategic partner-a Chinese consortium of Shenzhen Stock Exchange and Shanghai Stock Exchange.

Bangladesh Securities and Exchange Commission (BSEC) extended the timeframe as the existing deadline expired on the day.

The premier bourse applied for the extension on Wednesday as it did not get necessary regulatory approval for the SSA until then, said DSE managing director KAM Majedur Rahman.

Previously, the regulator extended the timeframe for three times during a period from July, 2016 to July, 2017.

On February 10, the DSE approved the proposal by the consortium for purchasing 25 per cent stake in the bourse.

A four-member BSEC committee is scrutinising the proposal and was supposed to submit its report by March 07. The BSEC also extended this deadline by one week.

After getting the committee report, the regulator would deliver its decision on signing the share sale agreement between the two parties.

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