GP share trading begins on DSE Monday
Thursday, 12 November 2009
FE Report
Share trading of the country's largest issue Grameenphone will begin Monday next on the Dhaka Stock Exchange (DSE) and Sunday next on the Chittagong Stock Exchange (CSE).
The DSE board Wednesday approved the GP listing and fixed the debut day.
"The GP share trading will make debut Monday next " said Rakibur Rahman, DSE president.
Usually, any newly listed company's share trading began in the same on the country's both the bourses.
"We are ready to start share trading of the GP Sunday next," Mohammaed Abdullah Mamun, chief executive officer of CSE, told the FE. " We can consider for beginning GP share trading in the same day with the DSE, if GP requests us to change the date," he added.
Top mobile phone operator, GP raised Tk 4.86 billion through the sale of 69.44 million shares to the public and the same amount by selling similar stakes to institutional investors such as banks, insurances and mutual funds.
The Securities and Exchange Commission, on Aug 20, cleared the GP to float ordinary shares of Tk 10 each, in addition to a Tk 60 premium per share.
Lottery draw for share allotment of the GP was held on October 29. The venue was abuzz with hundreds of aspirants, who gathered there early in the morning as the GP initial public offering (IPO) fired them up since its plan to go public.
Out of the total of 312,501 shares, local investors were allocated 277,757, a further 34,720 went to non-resident Bangladeshis and 24 to the mutual funds, according to the figures provided by the GP.
The pre-IPO or private placement of Tk 4.86 million was completed in December last year.
GP's IPO subscriptions opened on Oct 4 and closed on Oct 8 for locals. Non-resident Bangladeshis (NRBs) had until Oct 18.
Norway's telecom giant Telenor owns 62 percent of Grameenphone, launched in 1997, while the local Grameen Telecom owns the rest.
Meanwhile, Chittagong Stock Exchange (CSE) newly elected president Fakhor Uddin Ali Ahmed handed over the listing confirmation letter to the chief executive officer of the GP Oddvar Hesjadal at its Dhaka office Wednesday.
CSE President urged foreign investors to offload share or raise capital through Bangladesh capital market since it has been proved that large size of capital like GP has been easily subscribed by the retail investors.
CSE's Vice Presidents Al Maruf Khan and AQI Chowdhury, Directors MKM Mohiuddin and Mohammad Fakhruddin, and GP chief corporate officer Raihan Shamsi were also present among others in the programme.
Share trading of the country's largest issue Grameenphone will begin Monday next on the Dhaka Stock Exchange (DSE) and Sunday next on the Chittagong Stock Exchange (CSE).
The DSE board Wednesday approved the GP listing and fixed the debut day.
"The GP share trading will make debut Monday next " said Rakibur Rahman, DSE president.
Usually, any newly listed company's share trading began in the same on the country's both the bourses.
"We are ready to start share trading of the GP Sunday next," Mohammaed Abdullah Mamun, chief executive officer of CSE, told the FE. " We can consider for beginning GP share trading in the same day with the DSE, if GP requests us to change the date," he added.
Top mobile phone operator, GP raised Tk 4.86 billion through the sale of 69.44 million shares to the public and the same amount by selling similar stakes to institutional investors such as banks, insurances and mutual funds.
The Securities and Exchange Commission, on Aug 20, cleared the GP to float ordinary shares of Tk 10 each, in addition to a Tk 60 premium per share.
Lottery draw for share allotment of the GP was held on October 29. The venue was abuzz with hundreds of aspirants, who gathered there early in the morning as the GP initial public offering (IPO) fired them up since its plan to go public.
Out of the total of 312,501 shares, local investors were allocated 277,757, a further 34,720 went to non-resident Bangladeshis and 24 to the mutual funds, according to the figures provided by the GP.
The pre-IPO or private placement of Tk 4.86 million was completed in December last year.
GP's IPO subscriptions opened on Oct 4 and closed on Oct 8 for locals. Non-resident Bangladeshis (NRBs) had until Oct 18.
Norway's telecom giant Telenor owns 62 percent of Grameenphone, launched in 1997, while the local Grameen Telecom owns the rest.
Meanwhile, Chittagong Stock Exchange (CSE) newly elected president Fakhor Uddin Ali Ahmed handed over the listing confirmation letter to the chief executive officer of the GP Oddvar Hesjadal at its Dhaka office Wednesday.
CSE President urged foreign investors to offload share or raise capital through Bangladesh capital market since it has been proved that large size of capital like GP has been easily subscribed by the retail investors.
CSE's Vice Presidents Al Maruf Khan and AQI Chowdhury, Directors MKM Mohiuddin and Mohammad Fakhruddin, and GP chief corporate officer Raihan Shamsi were also present among others in the programme.