GrameenPhone to raise USD300 million in share sales

24 Jul 2008

Bangladesh’s mobile phone network market leader GrameenPhone has finalised plans to raise USD300 million through selling shares to the general public and institutional investors. Around USD150 million worth of shares in the cellco are to be offered in a private placement ahead of an IPO in which the other half of the total will be floated on the stock market, according to the company’s announcement. GrameenPhone, majority-owned by Norway’s Telenor, said it expects to submit filings by the end of this month to list on the Dhaka and Chittagong stock exchanges. The listing depends on regulatory approvals and market conditions.

Bangladesh, GrameenPhone,

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