Teletalk talks USD188m IPO this year

28 Apr 2008

Bangladeshi government-owned cellco Teletalk aims to sell between 25% and 30% of its shares to the public on the stock market this year, reports local newspaper the Daily Star. The stock is valued at around USD188 million, based on a valuation carried out by the struggling GSM operator’s executive board. Cash raised by the IPO will be used to expand Teletalk’s network and boost its subscriber base, currently just over a million, giving it a market share of less than 2.5%. The board, which recently approved a BDT5.4 billion network expansion plan, will meet next week to finalise the IPO plan, according to a senior official, who said that ‘in principle we have already decided to raise the funds this year. The next board meeting will decide whether the amount to be offloaded on the capital market is 25% or 30%.’ Telecoms ministry officials added that the government has no plans to sell part of Teletalk to a strategic foreign investor.

Bangladesh, Teletalk,

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