The Bangladesh Securities and Exchange Commission on Tuesday approved a proposal of Genex Infosys Limited, a business process outsourcing company, to raise Tk 20 crore from the capital market through an initial public offering.
The company will float 2 crore shares at an issue price of Tk 10 each.
A BSEC meeting, presided over by its chairman M Khairul Hossain, approved the IPO proposal of Genex Infosys, said a BSEC press release.
The company will use the IPO fund for expansion of call centre business, repaying loans and meeting IPO expenses.
As per the entity’s audited financial statement for the year ended on June 30, 2017, Genex’s net asset value per share and weighted average earnings per share
were Tk 13.96 and Tk 1.89 respectively.
Genex has a subsidiary company, where it holds 99.99 per cent shares.
Imperial Capital Limited is the issue manager of the company’s IPO.