Dhaka-based Aamra Networks Limited, a publicly listed internet service provider, has unveiled plans to raise Tk93 crore through the issuance of right shares, aimed at both loan repayment and business expansion. The move was revealed in a disclosure on the Dhaka Stock Exchange website. While a portion of the funds will be allocated for loan repayment, the exact distribution between this and network system upgradation, alongside network coverage expansion, remains undisclosed. The capital will be raised by issuing 3.09 crore right shares at a 2:1 ratio, at a share price of Tk30 each, including a Tk20 premium.
Aamra Networks currently boasts a paid-up capital of Tk61.98 crore and a total share count of 6.19 crore. The company’s annual general meeting is set for October 4th to secure shareholder approval, following which regulatory consent will be sought for the right share issuance. In the fiscal year 2022-23, the firm’s long-term loan amounted to Tk39.87 crore and its short-term loan reached Tk17 crore. Notably, the company witnessed a significant boost in its earnings per share (EPS) during this period, with a 107% increase to Tk3.64 compared to the previous year, attributed to heightened revenues from IT support, software services, and internet sales. Moreover, the net asset value per share marked a 9% year-on-year rise, reaching Tk38.11 in the same fiscal year.