GP advised to offload 10pc of its shares
Unb, Dhaka
The National Board of Revenue (NBR) has advised mobile phone operator Grameenphone Ltd to offload at least 10 percent of its paid-up capital in the share market to avail of the budgetary incentive of paying reduced corporate tax.The advice came as the country's leading cellphone operator inquired how much of the capital it will have to offload if it wants to go public and avail of the budgetary incentive, a senior NBR official told the news agency yesterday. "We're considering measures to bring mobile phone companies into the capital market," he said. The initial paid-up capital of Grameenphone was Tk 225 crore and the company will have to offload shares of Tk 22.5 crore. The official said the NBR has already given the company necessary clearance to offload 10 percent shares, but entering into the market depends on completion of necessary procedures by the company. Earlier, the mobile phone operator had decided to offload part of its shares in the capital market without mentioning the amount. On July 2, Telenor, the major shareholder of Grameenphone, has expressed the desire to offload its shares in the capital market.
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