Subscription period started for Grameenphone's initial public offering (IPO)

(Fornebu, 4 October 2009, via MForum.ru) Grameenphone Ltd., the leading mobile phone operator of Bangladesh has today opened its initial public offering (IPO) subscription for the public.

The subscription period started Sunday, 4 October, and will close on 8 October 2009. However, applications from Non-Resident Bangladeshis sent through courier will be accepted till 18 October 2009.

Grameenphone is expecting to raise approx. USD 141 million (or BDT 9.72 billion) through its issue and has already allocated shares of the amount of USD 70.4 million through a pre-public offering (PPO) to local Bangladeshi institutional investors, which will be issued upon completion of the IPO.

"This marks a new major milestone in Grameenphone's successful history. Now the people of Bangladesh will take part in the future development of the company," said Sigve Brekke, Executive Vice President of the Telenor Group and Head of Telenor Asia.

The Grameenphone IPO will be the largest IPO in the history of Bangladesh and on completion of the process approx. 69.5 million shares will have been issued. The price of each Grameenphone share has been set at BDT 70 (approx. USD 1).

"Telenor Group has been committed to the listing of Grameenphone, and in meaningfully contributing to the development of the Bangladeshi capital market," said Sigve Brekke. "We look forward to the successful completion of the largest IPO in the country."

Grameenphone will be the first of the mobile operators in Bangladesh to list on the local bourses - the Dhaka Stock Exchange (DSE) Ltd. and the Chittagong Stock Exchange (CSE) Ltd.

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Trading of Grameenphone shares started

(Fornebu/Dhaka 16 November 2009, press-release, via MForum.ru) Grameenphone today started trading its shares on the stock exchanges in Dhaka and Chittagong.

Formal approvals for the listing of Grameenphone shares were granted at two ceremonies, organized separately at the Dhaka Stock Exchange and Chittagong Stock Exchange offices.

Hilde Tonne, Executive Vice President and Head of Communications & Corporate Responsibility in Telenor Group attended the opening ceremony at the Dhaka Stock Exchange.

"The Telenor Group has always had a strong commitment to the development of mobile services in Bangladesh. Over the years Grameenphone has provided connectivity, and introduced innovative services that have contributed to both economic and social growth", said Hilde Tonne. "With the listing of Grameenphone the people of Bangladesh now has the opportunity to be co-owners, and participate in the further development of the company"

Grameenphone will be the largest corporate house to float shares in the Dhaka and Chittagong stock exchanges. In total 316,496 new Grameenphone shareholders have been added through the initial public offering (IPO) and a pre-placement offer (PPO) process.

"Telenor has supported the listing of Grameenphone on the Dhaka Stock Exchange and Chittagong Stock exchange. We have great hopes that this significant listing will postitively contribute to the further development of Bangladesh' capital market.", said Oddvar Hesjedal, CEO of Grameenphone.

Following today's listing Telenor's ownership in Grameenphone will be 55.8 percent.

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