Grameenphone shareholders committed to IPO process

Grameenphone shareholders committed to IPO process

Both the shareholders of Grameenphone, Telenor and Grameen Telecom, in a joint statement today have reiterated their continued commitment to the success of Grameenphone and to the ongoing IPO process. "We remain committed to our joint collaboration and our priority remains the continued success of Grameenphone as the benchmark corporate in Bangladesh,” said Dipal C. Barua, Deputy Managing Director of Grameen Bank and a Board member of Grameenphone, and Per-Erik Hylland, Senior Vice President of Telenor and also a Board member of GP, in a joint statement.
“Our commitment also extends to our stated objective of ensuring the seamless execution of the Grameenphone IPO by 2008 and in meaningfully contributing to the development of Bangladesh capital market and its positive profiling across the globe," they added in the joint statement.
Grameenphone recently formalized its intention to list its shares in the Bangladesh capital market through the filing of an IPO application with the Securities and Exchange Commission of Bangladesh. The proposed transaction structure includes a pre-public offer to global and local institutional investors followed by a public offer to the retail investors of Bangladesh.

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