Bangladesh's Grameenphone To List

July 2008 | IPO News Alert

Plans by Bangladesh's biggest mobile phone operator Grameenphone to launch the country's largest ever initial public offering (IPO) can be seen as a glowing endorsement for the strength of Bangladesh's infant capital markets. Grameenphone, which is 62% owned by Norwegian telecoms giant Telenor, has said that it aims to raise up to US$150mn via a pre-IPO share placement and a further US150mn through the IPO itself, and with Bangladesh's rapidly growing telecoms sector continuing to attract impressive levels of foreign investment, the market leader (with a 47% market share) is likely to attract plenty of interest.

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