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The Financial Express

Genex Infosys makes debut today

| Updated: February 07, 2019 10:34:06


Genex Infosys makes debut today

Genex Infosys Ltd, an IT company, makes its share trading debut today (Wednesday) on the bourses under "N" category, officials said.

Genex Infosys is the 9th company under the IT sector on the Dhaka Stock Exchange (DSE).

The company raised a fund worth Tk 200 million from the capital market under the fixed price method by offloading 20 million ordinary shares at an offer price of Tk 10 each under the fixed price method.

The share subscription for the initial public offering (IPO) of Genex Infosys was held on November 18 and November 29 last year.

Bangladesh Securities and Exchange Commission (BSEC), approved the company's IPO proposal on September 4, 2018.

Genex Infosys will utilise the IPO proceeds for expansion of call centre business (61.50 per cent), partial long-term loan repayment (30 per cent) and the IPO expenses 8.50 per cent), according to its IPO prospectus.

The company's pre-IPO paid-up capital is Tk 616 million and post-IPO paid-up capital will be Tk 816 million. Its authorised capital is Tk 1.0 billion.

The company's profit after tax stood at Tk 59.53 million and basic EPS of Tk 0.97 for the six months period ended on 31 December 2018 against profit after tax of Tk 60.08 million and basic EPS of Tk 0.98 for the same period of the previous year.

However, post-IPO EPS would be Tk 0.73 for six months period ended on 31 December 2018.

The Imperial Capital is working as the issue manager of the company's IPO.

Currently, eight IT companies are listed with the Dhaka bourse and the IT sector accounts for less than 1.0 per cent of the DSE's total market capitalisation.

Genex Infosys, the largest call centre operator in Bangladesh and principal service of the company is Information Technology Enabled Service (ITES) and providing maintenance and support services both to domestic and international clients.

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