90 more DSE members receive sales proceeds
Ninety more shareholders of Dhaka Stock Exchange on Wednesday received their respective portions of the strategic share sales proceeds after the bourse on Tuesday started disbursing the proceeds to its shareholders.
DSE started disbursing the proceeds after National Board of Revenue on Tuesday issued a circular slashing the bourse’s members’ capital gains tax to 5 per cent from 15 per cent, a DSE press release said.
DSE recently sold its 45,09,44,125 ordinary shares at Tk 947 crore to a Chinese consortium of Shenzhen and Shanghai stock exchanges to make the group its strategic partner.
The premier bourse would also distribute the proceeds to the remaining members today.
DSE on Tuesday distributed the proceeds to three members.
NBR approved the tax cut on condition that the shareholders would invest their respective shares of the sales proceeds in the capital market within six months and keep the investments under a lock-in for three years, a DSE senior official said.
The Chinese group joined the DSE board after depositing Tk 947 crore on September 3, but the amount could have not been distributed to the DSE members before settling the tax issue.
The BSEC on May 3 approved the DSE’s proposal for selling the shares to the Chinese consortium, the DSE press release said.
The country’s premier bourse on May 14 signed a strategic partnership agreement with the Chinese consortium to make the group its strategic investor.
Source: http://www.newagebd.net
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