Grameenphone plans for $300 mln IPO, placement

HONG KONG, July 24 | Wed Jul 23, 2008 9:04pm EDT

HONG KONG, July 24 (Reuters) - Bangladesh's top mobile phone carrier Grameenphone said on Thursday it plans to raise up to $300 million in an initial public offering and share placement.

The firm, majority owned-by Norway's Telenor (TEL.OL), said it aimed to raise up to $150 million with a pre-IPO share placement and up to another $150 million with the offering itself.

The telecom firm said it plans to file with regulators in Bangladesh by the end of the month with the aim of listing on exchanges in Dhaka and Chittagong. (Reporting by Tony Munroe, writing by Jeffrey Hodgson)

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