Submarine Cable Company to go public
Tuesday, 15 December 2009
FE Report
Bangladesh Submarine Cable Company Ltd (BSCCL) has approved a dividend of 10 per cent for the year 2008-09, a press release said Monday.
The decision came at the first Annual General Meeting of the company held in the city recently.
The meeting was informed that the company presently handles the country's lone submarine cable SEA-ME-WE-4 and contributes to the revenue earning of the government.
The AGM was told that the company made a profit of Tk 115 million (11.55 crore) during the FY 2008-09 and shareholders fund stood at Tk 953 million (95.33 crore).
The AGM was also told that BSCCL will float IPO soon and has decided to appoint ICB Capital Management Ltd as its issue manager in this regard.
He pointed out BSCCL has the capacity of 44.60 Gbps in the submarine cable and has applied for more capacity in upgrade 3 to reach an additional capacity of 7 million MIU km.
The country is now utilizing about 23 per cent of the available capacity and the company reduced the bandwidth charges by 10 per cent in FY 2008-09 to increase broadband services.
Sunil Kanti Bose, Secretary, Ministry of Posts and Telecommunication (MoPT) and Chairman of the company presided over the meeting, the release added.
Bangladesh Submarine Cable Company Ltd (BSCCL) has approved a dividend of 10 per cent for the year 2008-09, a press release said Monday.
The decision came at the first Annual General Meeting of the company held in the city recently.
The meeting was informed that the company presently handles the country's lone submarine cable SEA-ME-WE-4 and contributes to the revenue earning of the government.
The AGM was told that the company made a profit of Tk 115 million (11.55 crore) during the FY 2008-09 and shareholders fund stood at Tk 953 million (95.33 crore).
The AGM was also told that BSCCL will float IPO soon and has decided to appoint ICB Capital Management Ltd as its issue manager in this regard.
He pointed out BSCCL has the capacity of 44.60 Gbps in the submarine cable and has applied for more capacity in upgrade 3 to reach an additional capacity of 7 million MIU km.
The country is now utilizing about 23 per cent of the available capacity and the company reduced the bandwidth charges by 10 per cent in FY 2008-09 to increase broadband services.
Sunil Kanti Bose, Secretary, Ministry of Posts and Telecommunication (MoPT) and Chairman of the company presided over the meeting, the release added.