Aamra Networks is issuing rights shares

• Aamra Networks plans to raise Tk 930 million by issuing rights shares.

• The rights shares will be offered at a ratio of 2:1 (R), meaning that for every two existing shares, one rights share will be offered.
• The issue price of each rights share will be Tk 30, including a premium of Tk 20 per share.
• The proceeds from the rights issue will be used to cover the expenses of BMRE (Balancing, Modernisation, Rehabilitation and Expansion) and to pay back loans.
• The rights issue is subject to approval by the shareholders at the annual general meeting (AGM).
• If the shareholders approve the rights issue, it is expected to be completed in the fourth quarter of 2023.