The Dhaka Stock Exchange on February 10 had approved the Chinese offer to buy a quarter of the bourse’s 1.8 billion shares, but Bangladesh’s financial regulator asked it to “further scrutinise” the decision. “The board has reconfirmed its decision about approving the Chinese consortium’s bid as it is higher than its nearest competitor’s,” said stock exchange spokesman Shafiqur Rahman after the meeting Monday evening. Pakistan’s stock market: from Asia’s best to Asia’s worstThe Mumbai-based National Stock Exchange had offered 15 taka ($0.18) per share during the tender process this month. The regulator – which at the time defended its final authority to override decisions made by the stock exchange – was not immediately available for comment. The competing bids have exposed tensions in Bangladesh as it juggles growing interest from China against longstanding ties with its huge neighbour India.

Source: The Express Tribune February 20, 2018 12:31 UTC