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BSEC approves IPO of Genex Infosys

  • Published at 08:45 pm September 4th, 2018
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Bangladesh Securities and Exchange Commission (BSEC) building in Agargaon Dhaka Syed Zakir Hossain/Dhaka Tribune

According to the latest financial data, the weighted average Earnings Per Share (EPS) was Tk1.89, while the Net Asset Value (NAV) without revaluation stood at Tk13.96

Bangladesh Securities and Exchange (BSEC) has approved the prospectus for the Initial Public Offering (IPO) of Genex Infosys Ltd to raise Tk20 crore in public funds. 

Stock market regulator BSEC gave the approval at a commission meeting held in Dhaka on Monday. BSEC Chairman M Khairul Hossain presided over the meeting. 

According to the IPO prospectus, the company will offload two crore ordinary shares of tK10 each to raise Tk20 crore from the public. 

According to the latest financial data, the weighted average Earnings Per Share (EPS) was Tk1.89, while the Net Asset Value (NAV) without revaluation stood at Tk13.96.

IPO proceeds will be used to expand call centre businesses, paying off partial loans, and bearing the expenses of IPO proceedings.  

Genex Infosys Ltd has a subsidiary company, and it holds 99.99% shares of its sister concern. 

With the earnings of the subsidiary company, the consolidated NAV without revaluation stood at Tk13.97, while the consolidated weighted average EPS was TK2.02.

Imperial Capital Ltd will act as the issue manager for all IPO procedures of Genex Infosys.