The Chittagong Stock Exchange (CSE) shareholders on Thursday approved ABG Limited, a concern of Bashundhara Group, to become a strategic investor of the port city bourse.
The investors also approved the sale of 25% CSE shares to ABG Limited at an extraordinary general meeting (EGM) in Chattogram with the bourse Chairman Asif Ibrahim in the chair.
As per the rules, approval from general shareholders is mandatory for selling shares to strategic partners.
On Sunday last week, CSE acting managing director Ghulam Faruque and ABG Managing Director Sayem Sobhan Anvir inked the deal on behalf of their respective sides on ABG's becoming strategic partner of the bourse.
The company will buy a total of 15.86 crore shares of CSE at Tk15 each for around Tk238 crore.
The CSE was established in 1995. Currently, its paid-up capital is Tk634.52 crore and the number of shares is 63.45 crore.
Thereafter, the 27th annual general meeting of the exchange was held at the same venue where the shareholders approved the payment of a 5% cash dividend for fiscal 2021-2022.
In the meeting, the corporate representative of LankaBangla Securities Limited Mohammad Nasir Uddin Chowdhury was elected unopposed as the director of the bourse.
CSE's Risk and Audit Committee Chairman Md Liaquat Hossain Chowdhury, directors Professor SM Salamat Ullah Bhuiyan, Sohail Mohammad Shakor, Md Siddiqur Rahman, Mohammed Mohiuddin, Md Rezaul Islam and managing director (Acting) Md Ghulam Faruque, and Company Secretary Rajib Saha attended both meetings.