ADN Telecom to build 13-storied building, data centre at Tk70 crore
ADN Telecom's board of directors has decided to construct a 13-storied commercial building and a data centre setup in the capital's Badda area.
According to a regulatory disclosure, the building will have a total approximate floor space of 1,16,400 square feet.
Of the 13-storied building, with three basements, the first and second floors will be used for the data centre.
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The estimated total cost of the project will be Tk70 crore which will be financed through a syndicate loan from banks.
The company's board believes that this investment will have a positive impact on the long-term growth and success of the company, reads the disclosure statement.
ADN Telecom shares gained by 7.7% to Tk141.6 on the DSE on Tuesday.
The company posts impressive Q3 growth
Publicly-listed ADN Telecom Limited posted impressive year-on-year (YoY) profit growth in the third quarter of the current fiscal year due to the expansion of the overall business and new products and services.
In the January to March quarter, the consolidated net profit of the company stood at Tk6.59 crore, while the consolidated earnings per share was at Tk1.02.
From July to March period, its consolidated earnings per share stood at Tk3.03. Its consolidated net asset value per share was Tk29.62 as of 31 March 2023.
As of 31 March 2023, sponsors and directors held 44.91% of the company's shares, and institutional, foreign, and general investors owned 18.30%, 1.99%, and 34.80%, respectively.
