A total number of 11,23,140 investors has applied for the primary shares of Grameenphone Limited (GP), which is 3.55 times over than the total lot of GP shares.

Investors applied for shares worth Tk 1,725.07 crore. Local investors submitted 10,83,502 applications totaling Tk 1,657.97 crore, registering 3.79 times oversubscription. The NRBs submitted 39,638 applications worth Tk 67.10 crore.

GP offered 69,439,400 ordinary shares at Tk 10 each, in addition to a Tk 60 premium, totalling Tk 486.08 crore.

Subscription for Initial public offering (IPO) of Grameenphone's came to end on Thursday, October 8, 2009 for resident Bangladeshis and October 18 for non-resident Bangladeshis until.

Grameenphone IPO Lottery Result

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The security and exchange commission approved the IPO on July 3, 2009. Citigroup Global Markets Bangladesh Private Limited will continue to be the Private Placement Agent, Issue Manager and Lead Underwriter for GP Pre-IPO and IPO.

GP Already has converted the face value of the offered shares from BDT 1 per share to BDT 10 per share. More BDT 60 will added as premium on per share. GP will collect BDT 486,00,00,000 from individual investors from 6,94,39,000 Ordinary shares. 200 shares of GP will consider as a Market lot. Total 3,47,195 investors will get the primary share of GP.

On July 23, 2008, Grameenphone Ltd. (GP) announced its intention to conduct an Initial Public Offering (IPO) of its shares with listing on the Dhaka Stock Exchange and the Chittagong Stock Exchange, subject to necessary approvals and market conditions. GP filed its final IPO application with the SEC in December 2008 and had submitted the final prospectus in January 2009. It is anticipated that GP will raise gross proceeds of up to US$150 mm in the IPO through a sale of 100% primary shares.

Prior to the launch of the IPO, GP also intends to conduct a Pre-Public Offer (PPO) to foreign and domestic institutions of up to an additional US$150 mm through a sale of 100% primary shares. As part of the PPO, GP also intends to conduct a sale of shares to its employees (the “Employee Offer (EO).

GP was incorporated in 1996, commenced service in March 1997 and is currently the largest mobile telecommunications operator in Bangladesh with 20.3 mm subscribers, as of June 30, 2008, representing a 46.5% market share. GP is a 62% owned subsidiary of Telenor Mobile Communications AS, a leading international telecommunications company based in Norway providing mobile communications services in 12 countries across Scandinavia, Eastern Europe and Asia with 147 mm mobile subscribers as of March 31, 2008. Grameen Telecom (“GTC”) owns 38% of GP and was established in 1995 with the objects, inter alia, of improving the standard of living in rural Bangladesh. GTC is affiliated with Grameen Bank and Professor Muhammad Yunus, winners of the Nobel Peace Prize in 2006. GP operates a digital mobile telecommunications network based on the GSM standard in the 900 MHz and 1800 MHz frequency bands, with 14.6 MHz of spectrum in total, covering approximately 97.8% of Bangladesh’s population as of June 30, 2008 and is EDGE/GPRS enabled, allowing customers to gain access to high-speed Internet and data services from anywhere within its coverage area.

GP is a market leader in introducing new products and services in Bangladesh; GP was one of the first operators in Bangladesh to offer subscribers mobile to mobile service, EDGE, prepaid service, voice SMS and “over-the-air” top-ups. In January 2008, GP became the first mobile operator in Bangladesh to offer Blackberry services. GP is one of the largest ISPs in Bangladesh, with approximately 3.4 mm users accessing internet services from their mobile handsets.

In 2007, GP generated US$792 mm in revenues.