GP share trade debuts Nov 16

Grameenphone share trade is set to debut on November 16, bourse officials said yesterday.
The decision on the listing of the leading mobile phone operator was taken in the board meeting of Dhaka Stock Exchange (DSE). This is the biggest-ever public offer in the history of Bangladesh capital market.
Earlier, Chittagong Stock Exchange (CSE) President Fakhor Uddin Ali Ahmed handed over the listing confirmation letter to Grameenphone Chief Executive Oddvar Hesjedal at CSE's Dhaka office, according to a press release.
“We have confirmed our commitment to the capital market as well as to other stakeholders and we will do more for a better market in future,” said the GP CEO.
Subscribed by more than three times, the cellphone operator had earlier raised over Tk 486 crore from public last month by issuing 6.943 crore ordinary shares at Tk 10 each with a premium of Tk 60 each.
Grameenphone said it wanted to use proceeds from the issue to expand its network and develop information technology and for corporate purposes.
“Bangladesh capital market has proved that a large issue like Grameenphone can be easily subscribed by the retail investors. We urge other foreign investors to offload shares or raise fund through our stock markets,” said CSE President Fakhor Uddin Ali Ahmed.
CSE Vice Presidents Al Maruf Khan, AQI Chowdhury and Directors MKM Mohiuddin, Mohammad, Fakhruddin, CSE CEO Mohammed Abdullah Mamun and Company Secretary and Chief of Corporate Affairs of Grameenphone Raihan Shams were also present on the occasion.