Grameenphone, Bangladesh's largest mobile phone operator, is currently taking orders for an initial public offering that is expected to raise Tk4.86 billion $70.8 million. If completed, Grameenphone will be Bangladesh's largest ever listing.
The company is selling 69.44 million shares at a fixed price of Tk70 each. The public offering comes in two stages the order book for local subscribers opened on Sunday and is expected to close tomorrow. Non-resident Bangladeshis will be able to put in orders until October 18.
There are expected to be as many as a million applicants for the shares, which will make for a time consuming allocation process -- it may take as long as 30 days. The...
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