Grameenphone plans $300 mln IPO, placement

Reuters - Thursday, July 24 By Tony Munroe and Jeffrey Hodgson HONG KONG, July 24 - Bangladesh's top mobile phone carrier, Grameenphone, said on Thursday it plans to raise up to $300 million in a share sale and domestic listing that would be the impoverished South Asian country's largest-ever IPO. Fast-growing Grameenphone, majority-owned by Norway's Telenor , said it aimed to raise up to $150 million with a pre-IPO share placement and another $150 million with the initial public offering itself. The formal application to list on the Dhaka and Chittagong stock exchanges is expected to be filed with the Securities and Exchange Commission of Bangladesh and other authorities by the end of this month, it said. "We are hopeful that Grameenphone's inclusion in the country's bourses will further highlight the potential of... [read full story]