& çâÌæÚUæð´ ·¤è ¥ôÚU Îð¹Ùæ ÁæÚUè ÚU¹ð´ ¥ÍæüÌ ¥ÂÙð ÜÿØ ÂÚU ŠØæÙ ÚU¹ð´Ð ãæÚU Ù ×æÙð´, €UØô´ç·¤ ·¤æ× ·¤ÚUÙð âð ¥æÂ·¤ô ©gðàØ ·¤è Âýæç# ãôÌè ãñ ¥õÚU ÁèßÙ ·¤æ ¹æÜèÂÙ ÎêÚU ãôÌæ ãñÐ ÖÜð ãè ÁèßÙ ×ð´ ç·¤ÌÙè Öè ·¤çÆÙæ§ü €UØô´ Ù ¥æ°, çÁ™ææâæ ¥õÚU ©ˆâæã ÕÙæ° ÚU¹ð´Ð ŠØæÙ ÚU¹ð´, ÜÿØ ã×ðàææ ¥æÂ·Ô¤ Âæâ ãôÌð ãñ´ çÁ‹ãð´ ÂæÙð ·Ô¤ çÜ° ÂýØæâ ¥æÂ ·¤Öè Öè àæéM¤ ·¤ÚU â·¤Ìð ãñ´Ð

GP submits IPO prospectus to SEC

Star Business Report
Grameenphone, the country's number one mobile phone operator, yesterday submitted a draft prospectus of the larg-est-ever initial public offering (IPO) to the stock market regu lator for raising $ 150 million (around Tk 1000 crore) from the public.
However, the cellphone company declined to share details about its IPO proposal saying that it was a 'confidential' document.
Sources, however, said Grameenphone, which has recently been valued at S 3.2 billion, wants to offer each share at Tkl8 including a premium of Tkl7. The raised money will be used for Grameenphone's network development programme.
As of2007, earning per share of Grameenphone was Tk 1.50.
When asked, Syed Yamin Bakht, director (Public Relation) of Grameenphone, said, "The draft prospectus of Grameenphone IPO was filed with the SEC and it is a confidential document. The version linked with the DSE website will not be the full version. We can only file the full version of the IPO prospectus after receiving approval from the SEC."
Details of the IPO prospectus will also not be published on Dhaka Slock Exchange's (DSE) website as it was in previous IPO prospectuses. Instead, a brief version of the prospectus will be published on the website where details such as the paid up capital, authorised capital, earning per share, market lot and premium may not be available, according to sources.
The sources said there are some legal aspects and all the
information could not be published right now. All the IPO related information will be available with in a very short time, the sources added.
Yesterday Grameenphone also submitted the pre-IPO plan to the Securities and Exchange Commission (SEC) for approval to raise another $ 150 million through private placements.
According to sources, Grameenphone wants to sell shares worth $ 150 million through private placements, mostly to international investors.
Arif Al Islam, chief financial officer of Grameenphone, formally submitted both the IPO and pre-IPO prospectuses to SEC Chairman Faruq Ahmad Siddiqi.
In a short press briefing, he said by the end of this year Grameenphone will be the largest listed company in the country's stock market, which will be a milestone for Bangladesh's capital market.
Citigroup Global Markets Bangladesh Limited is the issue manager of the Grameenphone IPO.
Norway's Telenor owns 62 percent stakes in
Grameenphone, which launched its operations in 1997, with the remaining 38 percent being held by Grameen Telecom, a concern of Grameen Group.
According to Telenor's financial report, the company's revenue (4,622 million) in NOK (Norwegian Krone) was 7 percent higher in 2007 compared to its revenue (4,314 million) in NOK in 2006. Its operating profits, however, dropped sharply by about 33 percent to NOK 1,239 million (Tk 1,645 crore) during the year compared to NOK 1,836 million (Tk 2,438 crore) in 2006.
Earlier, Abu Ahmed, professor of the Department of Economics of Dhaka University, said that Grameenphone's entry in the stock market will be a breakthrough for the country's capital market history.
Ahmed said Grameenphone's IPO plan will be a big encouragement for the other mobile phone operators.
Grameenphone submitted its IPO roadmap in January this year. As per the roadmap, the company is scheduled to go for public listing by the end of September 2008.