Grameenphone set to launch an IPO in Bangladesh

Grameenphone set to launch an IPO in Bangladesh

Grameenphone has announced that they are set to launch their initial public offering in their domestic market Bangladesh.

They are the largest mobile service provider in the country and this IPO could boost the stock exchange in the country.

The company aims to raise 141 million dollars and market analysts believe that the IPO would be oversubscribed massively.

Dhaka Stock Exchange president Rakibur Rahman said in a statement: “It’s the biggest IPO in the capital market since our independence in 1971. Almost everyone in the country who has an account number is vying for a slice of the pie. Many have already disposed of shares of other companies while some have even sold gold jewelery to join the bonanza.”