eGeneration’s IPO subscription to begin Tuesday

The IPO subscription of the shares of eGeneration Limited, an IT consulting and software solutions company, will begin on Tuesday (12 January) and continue till the evening of 18 January.

During that period, the IPO subscription will be accepted in brokerage houses at Tk10 per share from 10am to 5pm every day. After receiving subscriptions, investors will get allotment of the company's shares on lottery.

Earlier, the Bangladesh Securities and Exchange Commission (BSEC) approved the company's Initial Public Offering (IPO) to raise Tk15 crore by issuing 1.5 crore shares.

The company will use the IPO fund for purchasing business floor space, repaying loans and developing digital healthcare platforms.

As of 30 June 2019, the company's net profit was Tk10.90 crore, slightly up from Tk10.49 crore the previous year.

During that period, the company's gross profit was Tk15.68 crore, which was Tk14.41 crore a year before. At the same time, its earnings per share (EPS) was Tk1.82 and net asset value per share was Tk20.56.

Shameem Ahsan, managing director of eGeneration Limited, said they wanted to pave the way for other technology companies in Bangladesh to get inspired from their success, raise funds from the local market and share their accomplishment with small investors.

"We believe this is how our ICT industry can flourish and take Bangladesh to a leading position in the global tech arena in the next decades."

eGeneration started as a private limited company in November 2003 and began commercial operations the same year.

The company has been working diligently with the aim of making Bangladesh a global brand in providing innovative solutions and moving beyond being a low-cost IT solutions provider.