aamra technologies’ IPO approved

/ / Press Release

The Securities and Exchange Commission on 20th February 2012, approved the initial public offering prospectus of aamra technologies ltd (ATL) to raise Tk 51.77 crore from the public.

Using the fixed price method, ATL will float 2.15 crore ordinary shares of Tk 10 each at an offer price of Tk 24, including a premium of Tk 14, the SEC said in a statement.

With the proceedings from the IPO, the company will invest in setting up ATM and POS terminals.

The company’s earnings per share is Tk 2.61, while the net asset value per share is Tk 24.81, according to its 2010 financial statements.

ATL was incorporated in Bangladesh as a public company in February 3, 2010. ATL was previously known as Texas Electronics Ltd and was renamed on December 31, 2007.

ATL is the sixth IT Company to be listed on the Bangladesh stock market.

About aamra technologies limited

aamra technologies limited (ATL) was incorporated in Bangladesh as a Private Limited Company with the Registrar of Joint Stock Companies & Firms; having head office at Faruk Rupayan Tower (9th Floor), 32, Kemal Ataturk Avenue, Banani, Dhaka-1213, Bangladesh on March 14, 1990 as Texas Electronics Limited. The Company’s name has been changed from Texas Electronics Limited to aamra technologies limited with effect from December 31, 2007. ATL has been converted to a Public Limited Company with effect from February 03, 2010.

Through its partnership with world leading technology companies, ATL provides IT solutions and services, including systems integration, information systems outsourcing, core banking software and switching and networking solution supply in Bangladesh.

ATL is a Gold Partner of Oracle Solutions in Bangladesh since 2007, and has the distributorship and marketing rights of Cisco Solutions, Thales, Diebold, Hypercom, Juniper, Finacle, Interblocks and Infosys solutions since 1997.

The company is the pioneer in ATM technology in Bangladesh and presently has over 800 installed ATMs throughout the country. With over 70% market share, ATL has installed over 11,000 Credit Card processing POS terminals in the country. The first private bank datacenter in Bangladesh was implemented by ATL through Juniper Systems and the company has major Cisco deployments in Mobile Telecommunications infrastructure in Bangladesh. ATL is the market leader in Security Pin Generation and Verification in Bangladesh and has over 70% market share in Credit Card personalization solution.