eGeneration Solutions — a placement shareholder of the publicly listed eGeneration Ltd — has announced to sell 20 lakh eGeneration Ltd shares through the Dhaka Stock Exchange (DSE).
Placement refers to a sale of shares or bonds to pre-selected investors and institutions rather than publicly on the open market. It is an alternative to an initial public offering (IPO) for a company seeking to raise capital for expansion.
At present, Shameem Ahsan is the chairman of eGeneration Solutions and managing director of eGeneration Ltd, while Syeda Kamrun Nahar Ahmed is the managing director of eGeneration Solutions and director of eGeneration Ltd.
eGeneration Ltd, a software solution provider, had raised Tk15 crore by issuing 1.5 crore shares in 2021.
The company used the amount to purchase commercial space, repay loans, and develop a digital healthcare platform.
At the end of the fiscal 2022-23, its earnings per share (EPS) stood at Tk1.45, meagrely higher than the EPS in the previous fiscal. In FY23, the company recommended a 10% cash dividend for its general shareholders only.
To secure shareholders' approval of the dividend, the company scheduled an online annual general meeting on 26 December.
In FY22, the company paid a 10% cash dividend.