While China’s offers clearly outbid what their Indian rival brings to the table, India does not want to give up without a fight. Also, the NSE asked for two board seats, which they would leave after five years. While the NSE made a promise to invest in DSE’s overall modernization process, it did not make its offer public. In contrast, the National Stock Exchange (NSE) of India offered to buy each share for BDT 15 ($0.18), which is 47% lower than the Chinese offer when aggregated. To make their offer more appealing, they said they would not seek profit on their investments in the first ten years. The Chinese party also sought one seat on the DSE board. According to reports by local media, the Chinese offer included the purchase of shares for Bangladeshi Taka (BDT) 22 each ($0.22) along with a $37 million investment in technical assistance.
China’s Shanghai and Shenzhen Stock Exchanges, the world’s fifth and eighth largest respectively, made a joint bid for the DSE stake.
