Sunday, 27 November, 2022

ABG Limited gets approval of CSE as strategic partner

  • Sun Online Desk
  • 25th November, 2022 04:57:26 PM
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ABG Limited gets approval of CSE as strategic partner

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Chittagong Stock Exchange (CSE) shareholders have approved the sale of its 25% stake to Bashundhara Group’s ABG Limited.

The shareholders gave their approval in an Extraordinary General Meeting (EGM) held in Chattogram on Thursday. CSE Chairman Asif Ibrahim presided over the EGM.

As per the rules, approval from common shareholders is mandatory for the sale of shares to strategic partners. Hence, the EGM was held to get the shareholders’ approval.

Earlier, Bashundhara Group's ABG Limited officially became a strategic partner of the Chittagong Stock Exchange last Sunday. An agreement was signed between the two parties in this regard on that day. Sayem Sobhan Anvir, the managing director of ABG Limited and acting managing director of CSE Ghulam Faruq signed the agreement on behalf of their respective organisation.

Henceforth, ABG Limited will work for technical and other development of the stock market making a significant contribution to the progress of the capital market of the country.

The Annual General Meeting was also held at the head office of CSE on the same day. The shareholders in the meeting approved the payment of a 5% cash dividend for the year 2021-2022. In the meeting, the corporate representative of LankaBangla Securities Limited Mohammad Nasir Uddin Chowdhury was elected as the Director of Chittagong Stock Exchange PLC.