Intech to provide Amazon web services in Banglades
Its share price jumps 10pc following the news
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Intech Limited, an IT company, has signed an 'Exclusive Commercial Agreement' with Indian Minfy Technologies Private Ltd to provide Amazon web services in Bangladesh.
The Intech will provide Amazon web services on exclusive basis with collaboration and support of Minfy Technologies, said an official disclosure posted on the Dhaka Stock Exchange (DSE) on Sunday.
Intech Ltd is a listed company in the DSE and Minfy Technologies is Hyderabad-based IT service provider.
The Intech also said it has signed a 'detailed commercial agreement' with Ranial Systems Inc., Somerset, USA, for working together for pursuing different financially rewarding businesses in, specially, IT/IT enabled services, computer software/hardware, internet of things (IOT), managed services, ERP, Intelligent Energy management, strategic consulting and co-innovation, vertical applications etc.
Following the news, the company's share price jumped 10 per cent to close at Tk 56.10 each on Sunday. It was also the day's second top gainer.
Its share price also soared 232 per cent or Tk 39.20 each within three months since June 18 last. On June 18, its share price was only Tk 16.90 each.
The Intech, which was listed on the DSE in 2002, disbursed 10 per cent stock dividend for the year ended on June 30, 2017.
The company's paid-up capital is Tk 282.17 million and authorised capital is Tk 300 million, while the total number of securities is 28.21 million, according to DSE data.
The sponsor-directors own only 4.77 per cent stake in the company while the institutional investors own 36.87 per cent and the general public 58.36 per cent as on August 30, 2018, the DSE data shows.