Indian Stock Exchange keen to become a strategic partner of CSE

The National Stock Exchange of India (NSE) has started negotiating with the Chittagong Stock Exchange (CSE) to form a strategic partnership.

A delegation led by Managing Director and CEO of NSE Vikram Limaye met with Finance Minister AMA Muhith and the stock market regulator on Monday to discuss this issue.

Speaking to the Dhaka Tribune, Managing Director of CSE M Shaifur Rahman Mazumdar said that discussions for the partnership were stillat the primary stage. 

“It was an informal discussion, and nothing has been decided yet,” he added.

Earlier, the CSE had been looking for strategic partners from China, the United Arab Emirates (UAE), and Hong Kong to sell 25% of its ownership, as per the Demutualization Scheme.

On March of this year, the CSE had requested the Bangladesh Securities and Exchange Commission (BSEC) to extend the deadline for selecting a strategic partner by a year, after the bourse failed to reach an agreement with any institution.

Previously, the NSE had also shown interest in buying a 25% stake in the Dhaka Stock Exchange (DSE) for Tk15 per share, which was outrivaled by a Tk22 per share bid from the Shenzhen Stock Exchange (SZSE). 

Following the signing of a memorandum of understanding by DSE, SZSE, and Shanghai Stock Exchange on May 14, DSE decided to sell 25% of its shares to the Chinese consortium.
Source: https://www.dhakatribune.com

Tags :

Share this news on:

Previous Story

Archive