Shenzhen Stock Exchange (SZSE) and Shanghai Stock Exchange (SSE) announced that as a Consortium have recently won the bid for 25% stake in Dhaka Stock Exchange (DSE) of Bangladesh. The proposal for the deal has been approved by regulators of both countries.
In the spirit of sincerity, practicality, cooperation and mutual benefit, the Consortium developed a comprehensive bidding proposal as a result of in-depth research and mutual consultation. In response to Bangladeshi market’s development, the proposal emphasized strengths and advantages of the Chinese Consortium and laid out a clear vision and path to deepen business and technical cooperation. On May 3rd, 2018, Bangladesh Securities and Exchange Commission officially approved the Consortium’s proposal to purchase 25% stake in DSE.
Based on the principle of equality, mutual benefit and win-win cooperation in compliance with Chinese and Bangladeshi laws and regulations, the Consortium will advance cooperation in key areas such as trading technology, market cultivation, and product development in an orderly manner to achieve higher-quality growth. With concerted effort, the Consortium and DSE will participate in and support the Belt and Road Initiative, contributing to the sound development of both capital markets.
DSE, founded in 1954, is Bangladesh’s primary stock exchange and maintains full membership of the World Federation of Exchanges. As of the end of December 2017, a total of 303 companies were listed on DSE with market capitalization of USD 44 billion. DSE initiated demutualization in 2013 and planned to solicit strategic investment. Exchanges from India, the U.S. and Turkey also joined the bidding process.