Bangladesh's Record IPO Heralds Qualitative Shift

In what represents a key test for the nation's relatively small Asian bourse, Bangladesh is bracing itself for a record public listing, set to be made by the country's largest mobile phone operator GrameenPhone. The Dakar-based operator's offering of 69.44mn shares has not only created an unprecedented degree of domestic interest, with the IPO set to be several hundred times oversubscribed, but it has also caught the attention of investors on the global stage. Although small by Western standards, the phone operator's proposed listing, which is expected to raise BDT4.86mn (US$70.8mn), heralds not only a quantitative, but also qualitative shift for the Dakar Stock Exchange.

To read the full article, please choose one of the following options: