Aamra Networks to issue Tk100 crore bond
An official of the company said the amount earned through the bond would be utilised for loan repayment, strengthening working capital and investing in network expansion
Aamra Networks Ltd, an IT communication solutions company, will issue a bond or debt securities worth Tk100 crore for five years' tenure.
The company has informed that this is a non-convertible zero-coupon bond and the issuing of these securities is subject to the approval of the regulatory authorities.
An official of the company said the amount earned through bond would be utilised for loan repayment, strengthening working capital and investing in network expansion.
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Meanwhile, in the third quarter (January-March) of the 2019-20 financial year, the company posted a six percent growth in revenues to reach Tk27.17 crore.
However, in the three quarters of the last financial year, revenue decreased by 9 percent to Tk77.24 crore.
In the three quarters ended on March 31, 2020, the net profit of the company also fell by 8 percent to Tk14.99 crore and earnings per share to Tk2.64.
In the 2018-19 financial year, the company paid 6 percent cash and 6 percent stock dividends to its shareholders.
The closing price of each of the company's share was Tk35.10 on Sunday at Dhaka Stock Exchange (DSE).
The company was listed on the DSE in 2017, with Tk56.22 crore as paid-up capital.
Out of total shares, the sponsors and directors of the company hold 33.04 percent, institutional investors 28.09 percent, foreign investors 15.98 percent and the general investors hold 22.89 percent shares.
