GP to raise $300m from IPO, pre-IPO

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Published On: 2008-07-24
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GP to raise $300m from IPO, pre-IPO
Md Hasan

Grameenphone, the country's largest mobile phone operator, has finalised its plan to raise $300 million (Tk 2,058 crore) -- $150 million from the stock market and the rest through private placement or pre-IPO.

Grameenphone yesterday said a formal application for the IPO with expected gross proceeds of up to $150 million is expected to be filed with the SEC and other authorities by the end of this month.

The company also said it intends to conduct a pre-public offer of its shares with expected gross proceeds of up to $150 million prior to the IPO.