Dhaka bourse EGM on April 30 to approve strategic partner

Dhaka Stock Exchange (DSE) will hold extra-ordinary general meeting (EGM) on April 30 to take general shareholders' approval for the share purchase agreement to be signed with its strategic partner.

The EGM will be held as part of submitting a revised proposal by the Chinese consortium for becoming the strategic partner of the DSE through purchasing 25 per cent stake in the premier bourse.

The bourse set the date for holding the EGM at a board meeting held on Sunday at the DSE office.

The record date for the EGM is on April 9, DSE Managing Director KAM Majedur Rahman told the FE after the board meeting.

On March 19, Bangladesh Securities and Exchange Commission (BSEC) asked the DSE to submit the revised proposal of Chinese consortium, comprising Shenzhen Stock Exchange and Shanghai Stock Exchange, after fulfilling five conditions.

"The offer and share purchase agreement should be approved by the general shareholders before submission of the revised proposal to the commission for final approval," according to one of the BSEC conditions.

The Chinese consortium earlier qualified for being a strategic partner through a bidding process.

Along with a technical offer for free, the Chinese consortium offered Tk 22 for each of 25 per cent shares of the DSE.

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