140 DSE shareholders get cheques

Staff Correspondent

5 November, 2018 12:00 AM printer

Shareholders of the country’s premier bourse, DSE, have started receiving cheques of the fund received from Chinese consortium as prices of its one-fourth stake sold to the strategic partner.

Dhaka Stock Exchange (DSE) started distributing the cheque among its shareholders on Tuesday and till Thursday some 140 shareholders received the cheque.

In early September last, the DSE received Tk 9.62 billion in exchange of its one-fourth stake sold to the Chinese consortium comprising Shenzhen Stock Exchange and Shanghai Stock Exchange.

According to DSE data, 250 shareholders of Dhaka Stock Exchange will get the fund equally of Tk around 3.78 crore which will be injected to the market.

Following a DSE plea, the government is going to reduce capital gain tax to 5 per cent from 15 per cent on the fund received from Chinese consortium by setting a set of conditions.

The conditions are- shareholders will enjoy the tax facilities on several condition including, full amount of money will have to be invested in listed securities, shareholders will have to open a designated bank account and new beneficiary owner account, entire money will have to be shifted to the designated account, have to inject in the market within six months from the receiving date and have to be remained in the market for next three years.

Market insiders and DSE officials lauded the move and said that it will support the capital market in overcome liquidity crisis in the market.

According to the conditions, shareholders will pay around Tk 47 crore as capital gain tax to the government at a 5 percent rate. Rest Tk 900 crore funds will be invested in the market.