Bank Asia to offload half of ERA-Infotech stake

Bank Asia Limited has announced to sell 97,844 ordinary shares it owns in ERA-Infotech Limited at a price of Tk 48.92 lakh.

The total offer price for these shares is Tk 48.92 lakh, while the cost of the lender for these shares was Tk 1.91 lakh, according to a Dhaka Stock Exchange (DSE) filing.

The move will reduce the bank’s stake in ERA-Infotech Limited from 20 per cent to 10 per cent.

The private commercial bank will sell these shares to meet the regulatory requirements and generate capital gains.

ERA-InfoTech, a technology company was established in November 2002, through a collaboration among Bangladesh’s Bank Asia, and Ranks ITT and Singapore’s Sash Tech SG Pte Ltd.