ITCL to spin-off in Bangladesh

SiS International (00529) said it was notified by Information Technology Consultants Limited (ITCL) that the Bangladesh Securities and Exchange Commission (SEC) has approved the listing application submitted by ITCL and issued a letter of consent for raising of capital by ITCL.

ITCL is a company incorporated in Bangladesh in 2000 and is currently owned as to about 43.6% by indirectly wholly-owned subsidiaries of SiS International. ITCL is principally engaged in the business of providing electronic payment services in Bangladesh. (HL).