ADN Telecom, a publicly traded company, is going to buy a 10 per cent share of online ticketing platform Shohoz Ltd worth Tk 120 million.
“The board of directors of ADN Telecom on Wednesday approved the proposal for an investment of Tk 120 million to acquire 10 per cent shares of Shohoz,” according to a filing with the Dhaka Stock Exchange on Thursday.
The investment is subject to the completion of all regulatory formalities, said the company.
ADN Telecom is known for its expertise in the telecommunication ecosystem, and Shohoz is a Bus and Railway online ticketing platform in Bangladesh under the brand name of “Shohoz”.
Shohoz first ventured out as an online ticketing platform in Bangladesh in 2014 under the brand name of “Shohoz”. It holds the number one position in terms of the use of its ticketing software by long-distance bus operators in counters nationwide as well as use of its web-based ticketing systems.
ADN Telecom Ltdis a leading telecommunications service provider in Bangladesh, offering various connectivity solutions, including internet services, data centre services, and network infrastructure.
With this partnership, ADN Telecom and Shohoz will work together to develop and deploy innovative solutions.
Listed in 2019, each share of ADN Telecom closed at Tk 140.10 on Wednesday.