Robi launches Smart Pay Ltd

Robi Axiata Ltd, Bangladesh’s second-largest mobile phone operator, has launched Smart Pay Ltd – a wholly owned subsidiary. The company’s registered office will be in Bangladesh, according to a filing by Robi on the Dhaka Stock Exchange on Tuesday.

It will set up and operate a fintech-driven electronic payment system, as well as other related services for customers. Robi posted an earnings per share (EPS) loss of Tk 0.02 in the April-June period of this year, compared to a positive Tk 0.09 a year earlier.

Despite this big disclosure, the stock price of Robi Axiata remained unchanged at Tk 30 per share during trading of the DSE.

According to the company website, Robi Axiata Ltd is a public limited company, where Axiata Group Berhad of Malaysia holds the controlling stake of 61.82 per cent, Bharti Airtel of India holds 28.18 per cent, and the public holds the remaining 10 per cent stake.

The company made its debut in the country’s twin stock markets in Dhaka and Chattogram on December 24 of 2020 with the largest ever IPO.

The company commenced operation in 1997 as Telekom Malaysia International (Bangladesh) with the brand name “Aktel.” In 2010, it was rebranded as “Robi” and the company changed its name to Robi Axiata Ltd.