Grameenphone-IPO

Mobile-phone operator, Grameenphone, plans to list on Dhaka Stock Exchange by June, a statement has said, after it holds what is expected to be the nation's biggest IPO.

The company, 62 percent owned by Norwegian telecom company Telenor, has more than 16 million of Bangladesh's 32-million cellular subscribers.

Grameenphone has named Citibank as its adviser for the Initial-Public-Offering, Bangladesh's telecommunications regulatory-body said in a statement.

Announcement of the flotation comes after Dhaka's benchmark-index soared a record 91% in 2007, while market- capitalization jumped more than 139%. The biggest IPO in Bangladesh so far was by the Shahjalal Islami Bank, which raised US$13.4 million in 2007.

Via Bangladesh-Blogger