Shareholders of Walton Hi-Tech Industries PLC have unanimously approved the merger of Walton Digi-Tech Industries Limited with Walton Hi-Tech. The move is expected to create operational synergies, reduce costs, and expand the product portfolio of one of Bangladesh’s leading technology companies.
The approval came at an Extraordinary General Meeting (EGM) held virtually on Wednesday, presided over by Walton Hi-Tech Chairman S M Shamsul Alam, said in a press release.
Addressing shareholders, Shamsul Alam highlighted the strategic importance of combining Walton Hi-Tech, a compliance-driven listed company, with Walton Digi-Tech, which manufactures and markets a wide range of ICT devices including laptops, desktops, printers, mobile phones, PCBs, and electric bikes.
S M Mahbubul Alam said the merger will strengthen research and development capabilities, enhance operational efficiency, and expand market reach, aiming to position Walton as a globally recognised technology brand under the ‘Made in Bangladesh’ label.
The EGM also approved a share exchange ratio under which 1 Walton Hi-Tech share will be issued for 38.45 Walton Digi-Tech shares, resulting in 7,80,234 new Walton Hi-Tech shares against 3 crore Walton Digi-Tech shares.
The meeting was attended by Vice Chairman S M Ashraful Alam, Sponsored Directors S M Nurul Alam Rezvi and S M Rezaul Alam, Independent Directors M Sadiqul Islam and Zohora Bibi, Additional Managing Director and CFO Md Ziaul Alam, senior executives, and institutional and general shareholders.
Shareholders described the merger as a prudent, forward-looking strategy expected to create new growth opportunities, ensure more efficient resource utilisation, and strengthen Walton Hi-Tech’s market position.
