• Most Popular
  • Most Shared

Bangladesh's Grameenphone gets go-ahead for IPO

Thu Jul 2, 2009 9:02am EDT

Stocks

   

OSLO, July 2 (Reuters) - Bangladeshi mobile phone service operator Grameenphone, 62 percent owned by Norway's Telenor (TEL.OL), has now received regulatory approval for its initial public share offer, the company said on Thursday.

Grameenphone said it filed its final application with the country's Securities and Exchange Commission in December 2008 and final prospectus in January 2009.

It said the valuation of the company and the offer price remained unchanged from the original application but it would increase the size of the total offer.

Grameenphone has already raised $60 million through a pre-IPO private placing offer (PPO) to local institutional investors last December.

"Grameenphone shareholders have further decided to revise the total offer size, including IPO and Pre-IPO, from 8.95 per cent to 10 percent of its total share capital," Grameenphone said in a statement on Thursday. (Reporting by Aasa Christine Stoltz; Editing by Greg Mahlich)



More from Reuters

Photo

Democrats reach deal on health bill

WASHINGTON (Reuters) - Senate Democratic healthcare negotiators said they agreed on Tuesday to replace a government-run insurance option with a scaled-back non-profit plan and would seek cost estimates on the deal.

» More Top News
File photo of snow covered Uhuru peak of the largest free-standing volcano in the world, Mount Kilimanjaro in Tanzania, taken on March 10, 2006. REUTERS/Neil Wallace
Postcards to Copenhagen:

Wish we weren't here

Mount Kilimanjaro's melting snow cap is one of many things forever altered by climate change. Here's a snapshot of a world dealing with environmental destruction.   Full Article 

Climate conference
People prepare to lower the body of one of the ministers killed in a blast from a suicide bomber last Thursday at Shamo Hotel in Somali's capital Mogadishu December 4, 2009. REUTERS/Feisal Omar
witness:

Scenes of a "slaughterhouse"

War is just about the only story to tell in Somalia. But when one reporter tried to cover an event reflecting positive change, violence reared its ugly head again.  Full Article 

World