eGeneration to make debut on bourse Tuesday

eGeneration Ltd will make its debut on the country's stock exchanges on 23 February. 

Under the code "EGEN", eGeneration shares will be trading under the 'N' category, as per usual practice. 

The companies under this category are later transferred to other categories based on their first dividend declaration and respective compliance.

The initial public offering (IPO) shares of eGeneration were credited to beneficiary owners' (BO) accounts on 16 February.

Earlier on 7 February, the IPO lottery draw was held online to allocate primary shares to general investors.

The IPO subscription of the company, which started its journey in November 2003, was held from 12 to 18 January.

eGeneration has raised Tk15 crore by issuing 1.5 crore of its shares to use the fund to purchase business floor space, repay loans and develop digital healthcare platforms.

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

During that period, its gross profit was Tk15.68 crore, which was Tk14.41 crore a year ago. 

At the same time, its earnings per share stood at Tk1.82 and the net asset value per share was Tk20.56.

Shameem Ahsan, managing director of eGeneration, said, "We wanted to pave the way for other technology companies in Bangladesh to be inspired by our success, raise funds from the local market, and share their accomplishments 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," he added. 

The company, which went into commercial operation more than seven years ago, aims to make Bangladesh a global brand in providing innovative solutions and moving beyond being a low-cost IT solutions provider.