BTCL to offload shares soon

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FE Report
Shares of the state-owned Bangladesh Telecommunications Company Ltd (BTCL) will be offloaded in the stock markets soon.
"At least 10 per cent shares of the BTCL will be floated in initial phase in the earliest possible time," Post and Telecommunications Minister Raziudiin Ahmed Razu told the visiting team of the Dhaka Stock Exchange (DSE) at his office Thursday.
Shares of two other subsidiaries of the BTCL-Submarine Cable Company and Teletalk Bangladesh Ltd- will also be offloaded after merger with the parent company, he added.
On July 2008, Bangladesh Telephone and Telegraph Board (BTTB) was turned into a cent-per-cent government-owned public limited company and was renamed BTCL.
DSE president Md Rakibur Rahman led the team. DSE senior vice president Saiful Islam, vice president Shakil Rizvi and a number of directors were present at the meeting.
Share trading will be expanded soon across the country through internet trading, which will ultimately help move the wheel of the country's economy further, the minister said.
Rakibur Rahman said, "The depth of the stock market will be broadened if such types of company is listed with the bourses."
"The market is ready to respond spontaneously as it did in case of Titas Gas and Power Grid," he said adding that it will help remove mismatch between demands and supply of shares.