Banglalink may list this year, says stock market chief

8 Sep 2010

Bangladeshi cellco Banglalink, a unit of Egypt-based Orascom Telecom, is ‘likely’ to submit its Initial Public Offering (IPO) proposal to the stock market regulator by December this year, earmarked solely for general investors with no private placements planned, according to Dhaka Stock Exchange (DSE) president Shakil Rizvi, quoted by the Financial Express (FE). He was speaking on Monday about initiatives to persuade private companies to list on local bourses. Banglalink’s CEO Ahmed Abou Doma met with the DSE management at the end of May and discussed problems faced by the firm in going public, but he also expressed optimism about the process, whilst adding specifically that the financial situation would be helped if the government cut its tax on SIM cards, the DSE president told the FE. Banglalink is the country’s second largest mobile operator by subscribers, with 16.1 million users at end-June2010, giving it a 25.4% market share, according to TeleGeography’s GlobalComms Datatbase.

Bangladesh, Banglalink,

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