eGeneration’s IPO lottery scheduled for Sunday

The initial public offering (IPO) lottery draw of eGeneration Ltd, an IT consulting and software solutions firm, is due to take place online, on 7 February, to allocate its shares to general investors.

The IPO subscription of the company, which started its journey in November 2003, was held from 12 to18 January.

eGeneration seeks to raise Tk15 crore by issuing 1.5 crore of its shares and use the funding to purchase business floor space, repay loans and develop digital healthcare platforms.

As of 30 June, 2019, the company's net profit was Tk10.90 crore, slightly up from Tk10.49 crore in the previous year.

During that period, its gross profit was Tk15.68 crore, which was Tk14.41 crore a year before. 

At the same time, its earnings per share stood at Tk1.82 and the net asset value per share was Tk20.56.

Shameem Ahsan, managing director of eGeneration, said, "We wanted to pave the way for other technology companies in Bangladesh to be inspired by our success, raise funds from the local market and share their accomplishments with small investors. 

"We believe this is how our ICT industry can flourish and take Bangladesh to a leading position in the global tech arena in the next decades," he added. 

The company, which went into commercial operation more than seven years ago, aims to make Bangladesh a global brand in providing innovative solutions and moving beyond being a low-cost IT solutions provider.