ADN Telecom acquires 10pc stake in Shohoz

Business Report :
Listed IT and telecom services provider ADN Telecom on Wednesday announced that it is going to acquire a 10% share of online ticketing platform Shohoj Ltd (operating under the brand name Shohoz) for Tk12 crore.
According to the company’s price-sensitive information notice, the board of directors of ADN Telecom, in its meeting held on Tuesday, approved the proposal for an investment of Tk12 crore to acquire 10% shares of Shohoj Ltd.
The investment is subject to the completion of all regulatory formalities, as stated by the company.
If the deal materializes, it will be the first local investment in Shohoz.

Previously, Shohoz raised its last announced funding in 2019 from Vostok New Ventures and several other investors, reportedly valuing the company at around $45 million.