eGeneration Ltd has made a pre-IPO (Initial Public Offering) placement to United Group.
eGeneration Ltd., a leading IT consulting and software solutions company, is preparing to be the first software technology company in Bangladesh to go public in the coming months.
” This could be one of the major technology IPOs to take place in 2018. The Bangladesh-based company is currently focusing on cutting-edge technologies and has a diversified portfolio of clients in countries including USA, UK, UAE, Russia, Uganda, Japan, Canada, Denmark, Philippines, Saudi Arabia and India. eGeneration with its successful entry in the stock exchange will pave the way for other software companies to raise funds through IPO,” said a statement.
Mr. Moinuddin Hasan Rashid, Managing Director, United Group and Mr. Shameem Ahsan, Chairman, eGeneration Group signed the agreement on behalf of their respective companies. Also, present were Mr. B H Khan, Company Secretary, United Group; Mr. Bodrul Ahsan, Chief Executive Officer, Stock Trading Division, United Enterprises & Co. Ltd.; Mr. Ebadat Hossain Bhuiyan, CFO, United Group; Mr. Murtoza Zaman, Chief Executive Officer, Unimart Ltd.; and Mr. Fahad Khan, Associate Director, United Group. From eGeneration, Mr. SM Ashraful Islam, Executive Vice Chairman; Mr. Romi F. Ahsan, Director; Mr. Monowar Hossain Khan, Chief Business Development Officer; Mr. Mirajul Huq, Chief Marketing Officer, Mr. Emran Abdullah, Head of Operations were present in this ceremony at United Group head office on Saturday.
Mr. Moinuddin Hasan Rashid, Managing Director, United Group said, “With United Group’s investments in country’s power, healthcare, education, real-estate, port & maritime, textile and other manufacturing sectors, we wanted to contribute in realizing the Digital Bangladesh vision 2021. We are proud to join hands with eGeneration as we believe they have the right expertise in disruptive technologies like data analytics, artificial intelligence, blockchain, Internet of Things and cyber security and contributing the most in making Government’s Digital Bangladesh dream a reality from the private sector.”
Shameem Ahsan, Chairman of eGeneration Group said, “eGeneration has got approval for raising fund from Bangladesh Securities and Exchange Commission (BSEC). We have recently started making the share placements to institutional investors who can add strategic value to our business beyond the capital. We are proud to have United Group as our stakeholder. After United Group, few other large groups are taking interest in investing in eGeneration. Such partnerships will add a new dimension to the IT industry.”
United Hospital Ltd., Unimart Ltd., United Enterprises & Co. Ltd., United Power Generation & Distribution Company Ltd., United Engineering & Power services Ltd., United Property Solutions Ltd., United Purbachal Lands Ltd., United International University, Khulna Power company etc. are notable among many companies of United Group. On the other hand, locally eGeneration has been working with Ministry of Agriculture, Ministry of Shipping, Ministry of Foreign Affairs, ICT Division and many others for business process automation, system integration, project management, software development and training. They are also providing cyber security solutions to major financial institutions of the country.