GrameenPhone completes pre-IPO subscription

8 Dec 2008

GrameenPhone (GP) has completed USD60 million worth of pre-IPO share deals with 50 institutional investors, aiming to start trading on secondary stock markets by end-January, reports Bangladeshi newspaper the Daily Star. ‘Our pre-IPO subscription has been completed,’ a GP official said, adding that the company is now getting ready for the launch of a USD65 million IPO in January. The official added, however, that the public share offer is subject to approval from the stock exchange regulator, and the final IPO proposal will be submitted ‘in a few days.’ The pre-IPO offering was reportedly three times over-subscribed, with winners buying GP shares at BDT7.4 (USD0.11) each.

Bangladesh, GrameenPhone,

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Browse

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share