Bank Asia to sell its shares in ERA-Infotech at 25 times profit
Stocks
05 March, 2023, 10:50 am
Last modified: 05 March, 2023, 11:07 am
Bank Asia Limited has decided to sell its partial stake in ERA-Infotech Limited at 25 times profit.
According to the bank's statement filed on the Dhaka Stock Exchange (DSE), Bank Asia holds a 20% stake in the IT company; it decided to bring down its stake in the company by 50%, said a circular by the Bangladesh Bank.
As per the bank's decision, it going to sell 97,844 shares of the IT company at Tk48.92 lakh, where the bank's cost price was Tk1.91 lakh.
ERA-InfoTech Ltd -a joint venture IT company formed by Bank Asia, Ranks ITT Ltd of Bangladesh and Sash Tech SG Pte. Ltd of Singapore. ERA commenced its journey on 11 November, 2002.
Currently, Bank Asia shares are being traded at the floor price of Tk20. 20 each at the DSE.
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