Dhaka, Bangladesh (BBN)- Information Technology Consultants will make its share trading debut on the Dhaka Stock Exchange (DSE) and Chittgong Stock Exchange (CSE) on Sunday under ‘N’ category, officials said.
IT Consultants, which will be the 7th listed firm in the IT Sector on DSE, floated 12 million ordinary shares at an offer price of BDT 10 each and raised BDT 120 million from the public.
IPO subscription of the Dhaka based IT Company was took place between November 2 and November 12, last year.
The IPO fund is being used for business expansion, repayment of bank loans and meeting the IPO expenses, according to the company’s IPO prospectus.
As per audited financial statement for the year ended on June 30, 2014, the company’s earning per share (EPS) stood at BDT 1.04 and net asset value (NAV) at BDT 18.28.
The securities regulator – Bangladesh Securities & Exchange Commission (BSEC) approved the IPO proposal of the company on September 22, last year.
Betaone Investments Limited acted as issue manager for the IT Consultants IPO.
Established in 2000, the company provides to major banks, financial institutions, government organizations and retailers with an advanced infrastructure for transaction processing services while operating one of the largest bank driven independent ATM network in Bangladesh, according to company’s website.
BBN/SSR/BB