The Chinese consortium of the Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) started its journey in Bangladesh as a strategic partner of the Dhaka Stock Exchange (DSE) after receiving 25 percent shares, reports BSS.

“The consortium has become the strategic shareholder of the DSE through the settlement of the transaction as per the Share Purchase Agreement (SPA) signed earlier,” DSE Chairman Professor Abul Hashem told a media briefing at Dhaka’s Sonargaon Hotel.

On behalf of the Consortium, he said, Deputy Director-General of the SSE IT Management Committee Xie Wenhai has been nominated to serve as a member of the Board of Director of DSE.

DSE Managing Director KAM Majedur Rahman conducted the press briefing while DSE directors and SSE Macao and Taiwan Affairs Director for the HongKong Office Liu Fuzhong were also present on the occasion.

Rahman said the Chinese consortium has started their journey in Bangladesh as a strategic partner of the DSE which will help further developing of the country’s share market.

Liu Fuzhong said Bangladesh is a good friend of China and the Chinese entrepreneurs are investing in various projects in Bangladesh.

He expressed keenness to expand their investments in the country’s Information Technology (IT) and infrastructure development sectors.

On May 14, 2018, DSE signed the SPA with the consortium of Shenzhen Stock Exchange and Shanghai Stock Exchange, two leading exchanges in the world, where the consortium would take up 25 percent stake of DSE as a strategic investor.

In this strategic partnership, the consortium will advance long-term cooperation in key areas such as technology, market cultivation, and product development in an orderly manner to achieve higher-quality growth of the market and the economy.