Star Business Report

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Robi yesterday handed in its application to the Bangladesh Securities and Exchange Commission for the operator’s listing on the country’s twin bourses, as the long-awaited debut of the second largest mobile phone operator is finally taking shape.

The operator plans to raise Tk 387.74 crore for network expansion in anticipation of revenue-generating opportunities in the areas of Internet-of-Things, home and enterprise.

This will be the second listing of a mobile carrier after Grameenphone, which made its debut on the stock exchange in 2009.

A top executive of Robi, which is the country’s second largest mobile carrier with 4.93 crore active subscribers, acknowledged the development but declined to elaborate further.

But in a press conference at their office two weeks ago, Robi’s top brass said 10 per cent, or about 52.38 crore, shares will be offloaded.

The face value of the shares will be Tk 10 and there will be no premium.