GrameenPhone files IPO with SEC

30 Jul 2008

GrameenPhone filed an application with the Securities and Exchange Commission in Bangladesh yesterday for an Initial Public Offering (IPO) of its shares on the Dhaka and Chittagong stock exchanges to a value of up to USD150 million. The country’s leading cellco’s board approved the proposal for an IPO on 21 July subject to necessary approvals and market conditions. The Telenor subsidiary also plans to conduct a pre-public offer of shares to raise an additional amount of around USD150 million prior to the IPO. GrameenPhone is owned by Telenor (62%) and Grameen Telecom (38%, itself wholly owned by Grameen Bank of Bangladesh).

Bangladesh, GrameenPhone,

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