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Grameenphone submits draft prospectus for IPO, hope to raise $150m (Bangladesh)

  • July 31st, 2008
  • 11:54 am

For the Initial Public offering (IPO) Bangladeshi mobile operator Grameenphone has submitted a draft prospectus to the market regulator. Director of Public Relations yed Yamin Bakht said that the company is hoping to raise around $150 million.

No details related to prospectus has been disclosed. But the sources indicates that Grameenphone plans to sell the shares at BDT 18, including a premium of BDT 17. The proceeds of the IPO will be used for the company’s network development programme.To seek approval to raise an additional $150 million, Grameenphone also submitted a plan to the SEC. Grameenphone hopes to list by the end of September this year, report says.

Moto to Take $101M Charge

  • July 7th, 2007
  • 11:08 am

Motorola Inc. (NYSE: MOT - message board) says it will record a pre-tax charge of $101 million during its second quarter after it cut its headcount by about 2,100 in the three months to June 30.

In a filing with the Securities and Exchange Commission (SEC) Thursday, the company said the staff cuts were related to both the 4,000 job losses announced at the end of May and the previously announced, and separate, workforce reduction of 3,500 staff. (See Moto Cuts Another 4,000.)
Motorola says all three of its business segments — Mobile Devices, Networks and Enterprise, and Connected Home — as well as “various corporate functions, are impacted by these plans.” The majority of staff hit by the second-quarter cuts are in the U.S., Germany, and Canada.

Motorola expects further charges throughout 2007 as it continues to lay off more of the 4,000 staff that are being cut in the latest round of job losses.

 

   

 

 

NTT ups PLDT stake to 15.5%

  • July 7th, 2007
  • 10:03 am

In a filing with the US Securities and Exchange Commission (SEC), Japan’s Nippon Telegraph and Telephone Corp. (NTT) reported holding a 15.5% stake in the Philippines’ dominant telecoms operator Philippine Long Distance Telephone (PLDT).In a previous filing, dated 16 April, the Japanese carrier reported holding 14.5% of PLDT.