Centering a recent Initial Public Offering (IPO) subscription of Walton, large number of small and general investors invested in the capital market.
Investors crowded in the brokerage house amid the coronavirus pandemic to apply for Walton IPO subscription during Walton Hi-Tech Industries’ IPO subscription from August 9 to August 16, said a press release.
Stake holders considered market reputation, business growth, record of EPS (Earnings Per Share) and Net Asset Value (NAV) in last fiscal year before investing into Walton’s IPO subscription.
Ataur Rahman, an investor of Joytun Securities, said “I was used to invest in both the IPO and the secondary market. Witnessing the market’s deterioration in recent time, I lost my confidence for further investment in the capital market.”
“But now, I am inspired to make the investment with Walton as it is well reputed and good company.”, he said.
On June 23, the Bangladesh Securities and Exchange Commission (BSEC) approved the IPO proposal of the Walton Hi-Tech to raise a fund worth Tk 1 billion by issuing nearly 2.93 million ordinary shares.
According to the Dhaka Stock Exchange sources, total of 233 eligible investors applied for Walton IPO subscription.
The IPO proceeds will be spend on expansion of its businesses, repay bank loans and meeting the IPO related expenses.
Also read: Walton shares Tk 77cr profits with employees
The local electronics giant Walton has witnessed a sharp rise in both the demands and the sales of its air conditioner following the sweltering heatwave across the country.
In this summer, Walton released latest technologies air conditioners with advanced features at reasonable prices in the local market. In addition, the local brand has been offering some lucrative benefits to customers, 100 percent cash discounts, cash vouchers up to 50 percent of the paid amount, free installation, AC exchange facility etc.
Walton AC’s Chief Operating Offer Mahfuzur Rahman said AC sales were increased sharply in this year centering heavy heatwave all over the country. Specially, Walton Smart Invert AC sales increased remarkably.
“Walton Smart Inverter AC became customers’ hot cake this summer,” he added.
The unique features of Walton Smart Inverter AC are: up to 60 percent energy saving, notification of daily or monthly electricity consumption rates, controllable through voice command or smart phone’s internet from outside the home, use of dual defender technology to kill the germs of any bacteria or virus and also ionizer technology to flow dust-free clean air across the room.
Under Walton Digital Campaign Season 7, customers can get a brand new AC as free through purchasing a Walton AC or sure cashback up to 50 percent.
Moreover, customers can buy Walton’s any model of AC at 25 percent discount through exchanging any brand old or used air conditioner under the company’s ‘AC Exchange’ offer.
For the customers of Walton E-plaza, Walton declared ‘AC Mid Season Crazy Deal Offer.’ Under this offer, Walton AC’s online customers are enjoying maximum 50 percent cash discounts on Walton Inverter and Ionizer ACs. From E-plaza, customers can purchase Walton’s 1.5 ton Ionizer AC at Tk 32,435 and 1 ton AC at Tk 27,675.
Urging the government to improve telecommunication infrastructures, Bangladesh Mobile Phone Consumers' Association (BMPCA) on Tuesday placed a five-point recommendation to ensure uninterrupted high speed internet service at low cost.
BPMCA President Mahiuddin Ahmed at a press conference at Dhaka Reporters' Unity (DRU) said high speed internet facility is a must during the pandemic as most of the work is being done online.
"Telecommunication and internet services are the only means of education, medical, administrative, court, agriculture, business and daily activities during the ongoing epidemic," he said.
Mahiuddin highlighted that the number of internet subscribers has increased to 102113000 and their data usage has increased by 25 percent in recent years.
"Although the number of subscribers have increased customers'suffering has also multiplied due to weak networks and high data cost," he added.
BMPCA's five proposals for uninterrupted high speed internet service at low cost are --- reducing tax rate on telecommunication services, pricing fiber optical network reasonably, eliminating bureaucratic complexities, ensuring adequate frequencies for subscribers, and withdrawing duty on 4G devices import for two months to distribute them at a low price among students with connections via an agreement with the operators.
Google warned on Monday that the Australian government’s plan to make digital giants pay for news content threatens users’ free services in Australia.
“A proposed law ... would force us to provide you with a dramatically worse Google Search and YouTube, could lead to your data being handed over to big news businesses, and would put the free services you use at risk in Australia,” Google Australia and New Zealand managing director Mel Silva wrote.
Both Google and Facebook have condemned the proposed legislation, which was released last month.
Australian competition watchdog Rod Sims, chair of the Australian Competition and Consumer Commission, which drafted the laws, said Google’s letter contains misinformation.
“Google will not be required to charge Australians for the use of its free services such as Google Search and YouTube, unless it chooses to do so,” Sims said in a statement.
Google later said in a statement that free services were at risk in Australia because the draft laws were “unworkable.” Google said it did not intend to charge Australians for those services.
Samsung Electronics has launched an innovative campaign- ‘Samsung Promise’ offering return of monetary value if any customer opt to return their purchase Samsung TV.
Under the campaign, customers who purchased any R series UHD & QLED TV models will be eligible for 60% “promised money” if they wish to return the TV within 6 months of initial purchase, said a press release.
While returning the TV; the customer must ensure the condition with no exterior/ interior damage, with original remote control, packaging and Certificate of Promise along with the original purchase invoice.
This ‘promised money’ is only applicable to purchase Samsung consumer electronics products such as TV, refrigerator, air conditioner, washing machine, microwave oven, vacuum cleaner etc.
Also read: Samsung Bangladesh launches Galaxyshopbd.com