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Fund received from Chinese consortium

DSE starts distribution of cheques among shareholders

FE Report | November 01, 2018 00:00:00

The country's premier bourse has started distribution of cheques of the fund received from Chinese consortium to its shareholders.

A release of Dhaka Stock Exchange (DSE) said, the DSE started the job of cheque distribution on Tuesday.

"Some 90 shareholders have received cheques as of Wednesday," the DSE release said.

In early September last, the DSE received Tk 9.62 billion in exchange of its one-fourth stake sold to the Chinese consortium comprising Shenzhen Stock Exchange and Shanghai Stock Exchange.

Late, following a DSE plea, the government reduced capital gain tax to 5.0 per cent from 15 per cent on the fund received from Chinese consortium setting the condition of investing the fund in the capital market.

Mostaque Ahmed Sadeque, the president of DSE Brokers of Association (DBA), said the revenue board has finalised a statutory regulatory order (SRO) on reduction of capital gain tax.

"The DSE shareholders will have to invest their funds in listed securities within six months. They will be allowed to conduct sell-buy and the principal amount will remain unchanged," Sadeque said.

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