The grand journey of the ABG Limited, a sister concern of Bashundhara group, begins as the strategic partner formally after signing with the Chattogram Stock Exchange (CSE) on Sunday evening.
On the occasion of the signing ceremony a colourful function was held on Sunday at Radison Blu in Chattogram.
Managing Director of CSE Gulam Faruk signed the agreement on behalf of CSE and Sayem Sobhan Anveer Managing Director of ABG Limited signed on behalf of his organisation.
Earlier, CSE director Major Emdadul Islam and Imdadul Huq milon addressed the function.
Land Minister Siafuzzaman Chowdhury Javed attended the function as the Chief Guest. Salman F Rahman MP attended it as the guest of honour. CCC Mayor Rezaul Karim Chowdhury, Deputy Minister for Education Mohibul Hasan Chowdhury Naufel MP, Prof. Shibil Rubayutul Islam, Chairman of BSEC, Ahmed Akbar Sobhan Chairman of Bashundhara group also attended the function as the special guests. Asif Ibrahim Chairman of CSE chaired the session.
The Bangladesh Securities and Exchange Commission (BSEC) has approved ABG Limited, a sister concern of the country’s leading business conglomerate Bashundhara Group, as a strategic investor of the Chittagong Stock Exchange (CSE).
The commission issued a press release in this regard, informing the approval came at a regular BSEC meeting on November 9 last.
Following the approval and application of the Board of Directors of CSE, the commission granted in-principle approval to ABG Limited, subject to certain conditions and compliance with the Securities Act.
Sayem Sobhan Anveer, managing director of Bashundhara Group holds the same position at ABG Limited.
Under his leadership, ABG Limited is working in a joint venture with an American-based organisation for the necessary technical support in managing the stock exchange.
The company will buy 25 percent shares of CSE as a strategic partner.
In view of this decision, ABG Limited will play a proper role in the overall development of CSE and the capital market of the country.
CSE was established in 1995. Currently, its paid up capital is Tk 634.52 crore and the number of shares is 63.45 crore.
CSE has paid 4 percent cash dividend to its shareholders for the financial year 2020-21.
Earlier, in September 2018, Dhaka Stock Exchange (DSE) transferred its 25 percent stake to two strategic investors, Shenzhen Stock Exchange and Shanghai Stock Exchange.
The DSE sold 25pc of shares for Tk962 crore, with each share priced at Tk21.
The CSE was established in 1995. Currently, its paid-up capital is Tk634.52 crore and the number of shares is 63.45 crore. It had paid a 4pc cash dividend to its shareholders for the financial year 2020-21.
As of June 30, last year, the CSE’s net profit was Tk28.34 crore, which was Tk31.88 crore in the previous year.At the same time, its earnings per share (EPS) were Tk0.45 and its net asset value per share was Tk11.75.
