2024-05-07 10:58:07
E-Engineering plc wants to enter the capital market through initial public offer (IPO). It is an engineering sector company. This decision was taken recently in the meeting of the board of directors of the company. E-Engineering will raise Tk 120 crore from capital market through IPO. And with the money collected, the company will set up a plant for the production of autoclave panels, concrete blocks, bricks and tiles. The company will start the IPO process soon.
This decision of the IPO will be effective subject to the approval of the capital market regulatory body Bangladesh Securities and Exchange Commission (BSEC).
This information is known from company sources.
E-Engineering is a Saif Powertech family company. This will be the second company of this group when it comes to the capital market. Saif Powertech Limited, the flagship company of the group, was listed in the capital market in 2014. The company mainly provides seaport management services. Besides this, the company is also involved in the business of ship management on the Bangladesh-Dubai route.
E-Engineering plc is primarily an Engineering, Procurement and Construction (EPC) company. This company designs, procures, builds and installs infrastructure for various organizations as per their needs. In addition to this, E-Engineering PLC provides services related to supply and installation of security and IT related equipment, dredgers, cranes, heavy machinery. The company’s business scope also includes river dredging, land development, construction of multi-storey buildings; Construction of roads, bridges, flyovers etc.
E-Engineering works closely with several foreign companies. They are distributors of some of these companies’ products and services. Companies include – Astrophysics of USA, ScanScan, American Science and Engineering, Ridomak Turkey of Turkey, MT Communication of Singapore, UV Scan of Netherlands.
According to E-Engineering PLC sources, the company currently has 12 crore shares. They are planning to issue another 3 crore shares.