ADN Telecom's road show draws good response

Leading IT and telecoms company ADN Telecom has attracted huge responses to its roadshow ahead of opening up to the public to raise Tk 570 million from the stock market, reports bdnews24.com.

ADN Telecom with Tk 448.6 million in paid-up capital has a reputation as a front-line service provider in the sector, providing customers at home and abroad with data, voice and internet services.

The road show for the company's initial public offering, or IPO was held at the Le Meridien hotel in Dhaka on Thursday evening.

ADN Chairman Asif Mahmood, who spoke about the growth of the firm at the road show, said: "We have proved what we can do in work, not words." He called for help from related people for the listing of the company on the stock market. "We will continue fulfilling our promises like we did before."

Besides top stock exchange officials, representatives of merchant banks, asset management firms, stock dealers, banks, non-banking financial institutions, insurance companies and issue managers were present at the roadshow.

ADN Telecom's net profit almost doubled in the past four years to Tk 105.93 million in the fiscal year 2016-17, according to the company's prospectus.

Return on assets, an indicator of how the company is profitable relative to its total assets, rose to 8.56 per cent in the fiscal year 2016-17 from 8.21 per cent a year ago. It gives an idea about how the company's management has efficiently used its assets to generate earnings.