eGeneration Ltd, the country's one of the leading IT consulting and software solutions companies, will make its share trading debut today (Tuesday) on the bourses under "N" category, officials said.
eGeneration will be the 11th listed company under the IT sector on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE).
The DSE trading code for the company is "EGEN" and company code is 22652 while the CSE scrip ID is 24013 and scrip code is "EGEN".
The software solutions company, which raised Tk 150 million from the capital market under the fixed price method, received approval from the Bangladesh Securities and Exchange Commission (BSEC) on October 21, 2020.
The company offloaded 15 million ordinary shares with an offer price of Tk 10 each using the fixed price method. Its initial public offering (IPO) subscription was held between January 12 and January 18 this year.
The company's IPO was oversubscribed by 40.76 times, as it received Tk 6.11 billion against the public issue of IPO shares worth Tk 150 million, according to the final status. The company's IPO lottery draw was held on February 7.
The firm will utilise the IPO proceeds for purchasing commercial space for office (Tk 80 million), repaying bank loans (Tk 34 million), developing digital healthcare platform (Tk 18.39 million), and IPO-related expenses (Tk 17.61 million).
The company has planned to invest about Tk 18.39 million of the IPO funds to enhance its IT infrastructure for development of digital healthcare platform to increase revenue generation.
The IPO will boost eGeneration's capability to better serve health sector customers with emerging technologies, such as - artificial intelligence, machine learning, big data analysis and block-chain, the company said in its IPO prospectus.
The company has reported profit after tax of Tk 48.76 million and basic earnings per share (EPS) of Tk 0.81 for six months (July-December 2020) period as against profit after tax of Tk 64.93 million and basic EPS of Tk 1.08 for the same period of the previous year.
However, post-IPO EPS would be Tk 0.65 for July-December 2020 period ended on 31 December 2020.
The company's authorised capital is Tk 1.0 billion. Its pre-IPO paid-up capital is Tk 600 million while post-IPO paid-up capital would be Tk 750 million.
NRB Equity Management Ltd is working as the issue manager of the company's IPO.
eGeneration started as a private Ltd company in November 2003, and began commercial operations in the same year.
The company has been working diligently with the aim of making Bangladesh a global brand in providing innovative solutions and moving beyond being a low-cost IT solutions provider, according to its IPO prospectus.
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