Disappointment As Grameenphone IPO Halved

The pending sale of shares in Grameenphone, Bangladesh's largest mobile phone company, was originally billed as one that could well provide a strong endorsement of the country's nascent capital markets. Now, however, the size of the deal has been more than halved, amid the sharp downturn in global markets and the ongoing financial crisis. The deal was originally supposed to have been broken down in to a US$150mn pre-IPO private placement aimed at international investors and an IPO of primary shares in Bangladesh.

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