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,


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