The Bangladesh Securities and Exchange Commission (BSEC) has approved the proposal of the Chittagong Stock Exchange’s selling of a 25 per cent share to ABG Limited, a sister concern of Bashundhara Group, as a strategic investor.
The BSEC gave the approval at a commission meeting held in Dhaka on Wednesday. BSEC chairman, Prof Shibli Rubayat Ul Islam, presided over the meeting.
ALSO READ — Bashundhara’s ABG asked to file detailed business plan
ABG Limited is offering Tk 15 for a share, but the CSE’s asking price is based on a 2016 valuation and does not reflect the current market situation, the BSEC said. At Tk 15 per share, the 25 per cent stake will cost around Tk 240 crore.
