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

Of the shares, 38.78 crore will be offered to the public retail and institutional investors in Bangladesh, while the remaining 13.61 crore will be for employees and directors of Robi under the employee share purchase plan.

In total, Tk 523.79 crore would be raised.

Axiata has given Robi two conditions for proceeding with the IPO, according to senior executives of the operator versed in the board room discussions.

Robi’s decision to get listed was made public on February 21, when its parent company Axiata, which holds 68.69 percent stakes of the operator, gave it the go-ahead to go for IPO through the fixed price method, according to a posting on Bursa Malaysia.

The operator’s preparations though began before that. It has already got the approval of the Bangladesh Telecommunication Regulatory Commission.

Indian Bharti Airtel holds 25 per cent stakes after it sold off its Bangladesh subsidiary to Robi and Japanese NTT Docomo the remaining 6.31 per cent.

All three parties’ holdings will be diluted according to the current ratio after the initial public offering, which will be managed by IDLC Investments.