Metropolis Report-
Bank Asia Limited has made the decision to sell a portion of its ownership in ERA-Infotech Ltd for a 25-times profit. Bank Asia owns a 20% share in the IT company, according to a statement the bank filed on the Dhaka Stock Exchange (DSE).
According to Bangladesh Bank, Bank Asia chose to reduce its stake in the company by 50%. 97,844 shares of the IT business will be sold for Tk48.92 lakh, compared to the bank’s cost of Tk1.91 lakh, per the bank’s decision.
A joint venture between Bank Asia, Sash Tech SG Pte. Ltd. of Singapore, and Bangladesh’s Ranks ITT Ltd. is called ERA-InfoTech Ltd. The ERA set out on its mission on November 11th, 2002. At the moment, Bank Asia shares are traded at the DSE’s floor price of Tk20 per share.
