Synesis IT to raise Tk30cr from stock market

Synesis IT Ltd — a multi-dimensional IT business' company – is eager to raise Tk30 crore through an initial public offering (IPO) from the stock market by floating its share at the face value at Tk10.

On 22 August, at its head office, the company signed a memorandum of understanding with AAA Finance and Investment Limited to enter the capital market.

According to its website, Synesis IT is reputed for providing large scale government to government, government to citizen, government to business e-governance solutions, advanced enterprise scale software solutions in mobile and, web and cross platform, call center services and mobile health.

Under the agreement, AAA Finance Limited will work as issue manager to raise funds.

Shohorab Ahmed Chowdhury, managing director of Synesis IT Limited, and Mohammad Obaydur Rahman, CEO & managing director of AAA Finance & Investment Limited, have signed the agreement.

Khalid Hossain, deputy general manager & head of issue management of AAA Finance & Investment Limited; Abdus Salam khan, director; Ahmed Ashikur Rahman, manager, and from Synesis IT Harun Ur Rashid, vice chairman; Abdur Rashid, director; AKM Karim Us Shan, deputy general manager, were present at the signing ceremony.

Shohorab Ahmed Chowdhury said, "With this agreement, we will start our journey towards IPO inclusion to expand our services beyond the borders of the country and abroad."

Mohammad Obaydur Rahman said, "We are delighted to be associated with Synesis It Ltd. We believe that when Synesis IT enters the capital market, the country's capital market will expand further and more such companies will be interested in entering the capital market."