Demutualisation
DSE distributes shares to member-brokers
Keeps 108 crore shares for IPO
The members of the Dhaka Stock Exchange, who turned into shareholders of the bourse after its demutualisation, has received 40 per cent or 72.15 crore shares of the bourse as per the demutualisation scheme and the rest 60 per cent or 108.22 crore shares have been kept in a ‘blocked account’ to be floated in an initial public officering. ‘The DSE on Thursday issued a circular to all the members of the bourse informing them the number of shares they have got,’ a DSE official told New Age.
As per the demutualised scheme, each of 246 members of the bourse has received 28, 86,042 shares of the bourse of Tk 10 each, while 1.15 crore shares of four members, who have remained untraced for long, have been kept in a ‘suspense account’ of the bourse, he said.
The DSE official said, ‘The benefits of the shares will be transferred to the investors’ protection fund if the four memberships remain unclaimed for the next five years.’
The circular has also informed the members that it will require prior approval from the board to transfer the shares, the official said.
Including the IPO shares each member of the bourse holds bourse’s 72.15 lakh shares worth Tk 7.21 crore as per the demutualisation scheme.
The worth of the shares kept for the IPO is Tk 1,082.26 crore without premium.
The DSE became the 23rd demutualised stock exchange in the world on November 21 after getting amended memorandum and articles of association certified by the Registrar of Joint Stock Companies and Firms on the day.
The paid-up capital of the bourse was set at Tk 1,803 crore and the total asset value at around Tk 4,200 crore.
The bourse has to follow the book-building method in issuing its IPO which the bourse has to float within three years after its demutualisation.
On September 26, the Bangladesh Securities and Exchange Commission gave its final approval to the demutualisation schemes of the DSE and the Chittagong Stock Exchange. The bourses had submitted their schemes to the BSEC on July 29.
-With New Age input
