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