ADN Telecom Ltd has announced a Tk 45 lakh investment to acquire a 45% stake in the proposed digital news platform, ADN Media Ltd. The internet service provider’s board has approved this move to expand its presence in the interactive digital media landscape. As reported, the initial paid-up capital for ADN Media Ltd is set at Tk 1 crore. ADN Telecom plans to subscribe to 45,000 shares at a face value of Tk 100 per share.
The company believes that this strategic investment will unlock various business opportunities. Reportedly, ADN Telecom’s profit experienced a 32.18% year-on-year decline, reaching Tk 4.44 crore in the first quarter of the fiscal year 2023-24. ADN’s shares closed at Tk 117.20 on the Dhaka Stock Exchange, marking a 0.61% increase on Wednesday.
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