Dhaka, Bangladesh (BBN)- The Dhaka Stock Exchange (DSE) has awarded membership license of M H Chowdhury Securities to the Standard Bank Limited as it quoted the highest price for the membership.
The decision was taken at a board meeting held on Wednesday at the board room of the country’s prime bourse presided over by its President Rakibur Rahman.
"A total of seven bidders took part in the bidding to buy membership of MH Chowdhury Securities and among them Standard Bank was the highest bidder at BDT 322 million," a DSE official said.
The other bidders and their quoted rates were: Dhaka Securities BDT 259 million, Meghna Life Insurance BDT 251 million, Progressive Life Insurance BDT 200 million, Trust Bank BDT 251 million, ANW Associates BDT 241 million and ONE Bank BDT 220 million.
Earlier on August 4, the DSE floated an open tender for sale of the MH Securities' membership licence which was cancelled on charges of swindling investors' fund.
The DSE invited second tender as it did not get any response from buyers due to fixed minimum price of BDT 400 million.
On March this year, the DSE authorities suspended membership of MH Securities on charges of swindling its client's money and shares worth BDT 65 million.
BBN/SSR/AD-09Aug12-11:20 am (BST)
