The initial public offering (IPO) of mobile phone operator Robi was oversubscribed 2.75 times, which was much less than the usual trend of 20 times or more.
This implies that the general investors will get one lot of 500 Robi-Axiata shares in less than three applications.
However, the oversubscription stands at 3.5 times when only the resident general investors are considered. In case of affected investors, the oversubscription is 1.22 times and for NRBs it is 1.28 times - they are also considered as general investors.
The ratio is too high for eligible investors as the oversubscription was 10.23 times, according to the issue manager.
Nearly 1.3 million BO account holders had applied for the IPO worth Tk 3.88 billion. The issue, however, received a total of Tk 22.26 billion.
The IPO subscription period began on November 17 and ended on November 23.
jasimharoon@yahoo.com