Leo ICT Cables withdraws SME fundraising plan ahead of election
Leo ICT Cables had planned to raise funds from the market to expand its production capacity and strengthen its capital base
Leo ICT Cables PLC has withdrawn its application to raise Tk7 crore from the SME platform of the stock market, stepping back amid political and economic uncertainties ahead of the national election.
According to sources at the Bangladesh Securities and Exchange Commission, the company pulled out its proposal after reassessing market conditions. A senior commission official, speaking on condition of anonymity, said the decision was taken after considering the prevailing political and economic situation.
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In October last year, the company had applied to issue seven million shares to raise Tk7 crore from the SME platform. The issue manager for the proposal was AAA Finance & Investment Limited.
The official also said since the current commission has not approved any initial public offerings (IPOs) or Qualified Investor Offers (QIOs) so far, the company likely reassessed the overall situation and decided to step back for now.
The official added that only one SME application is currently pending — that of Brain Station 23 PLC.
Leo ICT Cables had planned to raise funds from the market to expand its production capacity and strengthen its capital base.
The company's paid-up capital stands at Tk32.58 crore. For the year ended 30 June 2025, it reported revenue of Tk37 crore, up from Tk30 crore in the previous year. During the same period, profit after tax rose to Tk5 crore, compared to Tk3.09 crore a year earlier. Earnings per share (EPS) stood at Tk1.67.
According to information available on its website, Leo ICT Cables is a technology-driven manufacturing company in Bangladesh. It produces fiber optic cables, high-quality lithium-ion batteries, and Optical Networking Units (ONU). Its factory is located at Kaliakoir Hi-Tech Park in Gazipur under the Bangladesh Hi-Tech Park Authority.
The company says its fibre optic cables are engineered for high performance, reliability, and durability, forming a critical backbone of Bangladesh's digital and internet infrastructure. It also positions its lithium-ion batteries as efficient, long-lasting, and safe energy solutions, built to meet international standards and support growing power demands.
With modern machinery sourced from global suppliers and a skilled team of engineers and technicians, the company maintains strict quality control and timely delivery for both domestic and international markets. Through its products, Leo ICT Cables aims to contribute to a more connected, sustainable, and technology-driven Bangladesh.
