Genex Infosys, Navana Pharma, Aramit to invest in UPAY Digital Bank

Genex Infosys Ltd, Navana Pharmaceuticals Ltd and Aramit Ltd have decided to invest in the proposed digital bank named UPAY Digital Bank PLC.

The boards of the three companies made the decisions of the investment recently, they said in separate disclosures on the Dhaka Stock Exchange today.

Genex Infosys, an outsourcing innovative solutions and services provider, has decided to invest Tk 12.50 crore in the proposed digital bank as sponsor shareholder subject to the approval from regulatory authorities.

The proposed digital bank's paid-up capital is Tk 125 crore. So, the company will hold a 10 percent stake of the proposed digital bank.

Aramit, a cement material manufacturing and production company, has decided to invest Tk 6.25 crore and will hold a 5 percent of the total share of UPAY Digital Bank, it said.

Navana Pharmaceuticals will invest Tk 7.50 crore and controll a 6 percent stake.