ADN sources financing for broadband expansion project involving Agni Systems

17 Jun 2013

Bangladeshi operator Advanced Data Networks System (ADN Telecom) has arranged financing of BDT135 million (USD1.73 million) through private placement for institutional investors to expand its fixed broadband network, reports The Daily Star. ADN Telecom, which received regulatory permission for its broadband project this February, appointed City Bank Capital Resources to manage the issue, the newspaper added. ADN also signed two other deals with institutional investors which agreed to buy its shares, namely SEAF Bangladesh Ventures and Vanguard Asset Management. ADN is currently providing broadband connectivity to corporate clients through both wireless and wireline networks, said its CEO, Abdul Matin Miazi, while it plans to expand the network beyond the capital Dhaka in partnership with another ISP, Agni Systems. Both companies will share the country’s largest mobile operator GrameenPhone’s infrastructure for wireless services, the executive added. TeleGeography’s GlobalComms Database notes that both ADN and Agni also hold nationwide IP Telephony Service Provider licences, while Agni has previously rolled out wireless broadband services in the 3.5GHz frequency range with ‘WiMAX grade’ technology in Dhaka.

Bangladesh, Agni Systems,

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