ADN Telecom, a telecom player newcomer in capital market received lukewarm response from share traders despite brilliant operational performance in current fiscal.
The company earned Tk 87 crore operational turnover during the third quarters of the current 2019-20 fiscal until March 2020. It also earned Tk 8 crore profit during the same period, according to the interim financial report deposited by the company to the DSE said.
As per the latest estimate the current PE ratio of the company is Tk 25.46 while its earning per share is Tk 1.240, sources said.
When asked Rouful Manik, a share broker, told Business Mirror that traders do not buy shares evaluating company’s basic strength. “They only run behind information that ( X, Y, Z) company share would go to such level. Hunting such information they usually buy junk share instead of buying good company like AND Telecom,” Rouful Manik said.
ADN owns a diverse access network across the whole country through Wireless, Fiber, and Satellite Infrastructure. ‘Simplifying Connectivity’ has been the core competence of ADN Telecom. On that very note, ADN Telecom Ltd. is living up to this motto converging technologies with human excellence.
Bangladesh Telecommunication Regulatory Commission (BTRC) has awarded ADN numerous esteem licenses, and permissions as the Nationwide Internet Service Provider, Nationwide IP Telephony Service Provider, VSAT Provider with Hub and International MPLS Services are to name a few.
BTRC has assigned several radio frequencies in different bands in favor of ADN Telecom for its access and transmission networks that have strengthened the company to deploy latest wireless technologies, like as fixed WiMAX.
ADN Telecom Ltd, the leading ISP, MPLS, IPLC, and IP Telephony service provider in Bangladesh, initiated its glorious journey back in 2003. It is one of the major sister concerns of “ADN Group” along with ADN Technologies Ltd, Tech Valley Networks Ltd (TVNL), InGen Technologies Ltd, and ADN EduServices Ltd.
ADN Telecom was launched as a Private Limited Company and designated as the ‘Advanced Data Networks System Ltd.’ till 2012. From 2013, ADN Telecom Ltd. is marching ahead with glory with the current title. Besides offering the service as mentioned earlier, ADN Telecom covers other IT services like Data and Voice to Local and International clients to the countywide range.
As the leading telecom operators in the region, ADN Telecom has some of the most heavyweight strategic partners such as SingTel, Tata Communications, and Orange Business Service. Along with them, ADN Telecom also has a diplomatic alliance with British Telecom, Bharti Airtel, Sri Lanka Telecom, and so forth. These partnerships have enabled the company to provide end-to-end solutions in both domestic and international stage.
ADN Telecom Ltd. is an ISO 9001:2015 certified company. Using the latest technology, ADN Telecom provides world-class service through the most extensive network of customer touch points. ADN Telecom’s commitment to providing superior customer experience across all touch points has helped it to remain as the largest ISP for the last few years.
Trading of the shares of ADN Telecom Ltd commence on Dhaka Stock Exchange and Chittagong Stock Exchange on January 6 (Monday), 2019 under ‘N’ category, officials said.
The DSE trading code for ADN Telecom is “ADNTEL” and DSE company code is 22,651. The ADN Telecom, which raised a fund worth Tk 57 crore through book-building method, received IPO approval from the securities regulator on September 3, 2018.
It is the second company, which will debuted under the newly-introduced circuit breaker system.
The cut-off price on the IPO share was Tk 30 per share, which was set through bidding by the institutional investors under the book-building method. The company issued a total of 19.71 million ordinary shares. Of the, 60 per cent of the total or 11.87 million shares were reserved for eligible institutional investors, including mutual funds, at the cut-off price of Tk 30 each.
And 7.91 million (40 per cent) shares issued to the general and non-resident Bangladeshis at Tk 27 each, a 10 per cent discount on cut-off price, according to the book-building method. ADN Telecom will use the IPO proceeds to develop infrastructure, install a data centre, and pay bank loans.
As per the entity’s audited financial statements for the year ended on June 30, 2018, the company’s net asset value per share and basic earnings per share were Tk 18.80 and Tk 2.67 respectively.
ICB Capital Management Limited is the issue manager of the company’s IPO. Incorporated on September 22, 2003 as ‘Advanced Data Networks System Ltd’, the private limited company commenced commercial operations in 2003.
