The Dhaka and Chittagong stock exchanges will turn into public limited companies with a huge paid-up capital once they get a regulatory approval for their demutualisation schemes within this month.
The paid-up capital of Dhaka Stock Exchange will be Tk 1,803.77 crore, consisting 180.37 crore ordinary shares of Tk 10 each.
The Chittagong bourse will have Tk 634.52 crore as its paid-up capital, which will be divided into 63.45 crore primary shares of Tk 10 each.
The authorised capital of Dhaka bourse will be Tk 2,500 crore, while the port city bourse will have Tk 1,000 crore, according to the demutualisation schemes submitted to the Bangladesh Securities and Exchange Commission on July 29.
After scrutiny, the stockmarket regulator will approve the demutualisation scheme within this month in line with the Demutualisation Act, 2013, which was passed in parliament on April 29 with a promise to bring transparency in the market.
The bourses are now non-profit cooperative organisations, owned by the exchange members who are usually stockbrokers. When the bourses will become public limited companies, the shareholders will get dividend at the end of a year.
The existing paid-up capital of the DSE is Tk 5 lakh, consisting 250 shares of Tk 2,000 each.
Once the DSE becomes a public limited company, each of its existing 250 members will get 72.15 lakh ordinary shares of Tk 10 each.
Each of the CSE members will get 42.87 lakh shares of Tk 10 each when it turns into a public limited company. The existing paid-up capital of the Chittagong bourse is Tk 4.40 crore, divided into 148 shares of Tk 3 lakh each. However, 60 percent shares of the DSE and CSE members will have to be transferred to “block accounts” for sale to strategic and other investors after the demutualisation.
The demutualisation will transform the stock exchanges into for-profit companies owned by shareholders, and ensure alternative business models and operational efficiency.
A demutualised bourse can also freely trade on the market like a public limited company.
The paid-up capital of Dhaka Stock Exchange will be Tk 1,803.77 crore, consisting 180.37 crore ordinary shares of Tk 10 each.
The Chittagong bourse will have Tk 634.52 crore as its paid-up capital, which will be divided into 63.45 crore primary shares of Tk 10 each.
The authorised capital of Dhaka bourse will be Tk 2,500 crore, while the port city bourse will have Tk 1,000 crore, according to the demutualisation schemes submitted to the Bangladesh Securities and Exchange Commission on July 29.
After scrutiny, the stockmarket regulator will approve the demutualisation scheme within this month in line with the Demutualisation Act, 2013, which was passed in parliament on April 29 with a promise to bring transparency in the market.
The bourses are now non-profit cooperative organisations, owned by the exchange members who are usually stockbrokers. When the bourses will become public limited companies, the shareholders will get dividend at the end of a year.
The existing paid-up capital of the DSE is Tk 5 lakh, consisting 250 shares of Tk 2,000 each.
Once the DSE becomes a public limited company, each of its existing 250 members will get 72.15 lakh ordinary shares of Tk 10 each.
Each of the CSE members will get 42.87 lakh shares of Tk 10 each when it turns into a public limited company. The existing paid-up capital of the Chittagong bourse is Tk 4.40 crore, divided into 148 shares of Tk 3 lakh each. However, 60 percent shares of the DSE and CSE members will have to be transferred to “block accounts” for sale to strategic and other investors after the demutualisation.
The demutualisation will transform the stock exchanges into for-profit companies owned by shareholders, and ensure alternative business models and operational efficiency.
A demutualised bourse can also freely trade on the market like a public limited company.
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