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Tuesday, June 19, 2007

GP set to bring in life in Bangladeshi stock markets

Bloomberg reports GrameenPhone Ltd., the largest mobile-phone company in Bangladesh, said it plans to sell shares in an initial public offering in the country in 2008. The company expects the share sale to be Bangladesh's biggest ever, Chief Executive Officer Erik Aas said in an interview at the CommunicAsia telecommunications conference in Singapore today. GrameenPhone may also sell shares overseas, Aas said, without identifying countries. GrameenPhone, 62 percent owned by Norway's Telenor ASA, has 13 million subscribers now, more than half the country's total of between 23 million and 24 million, Aas said. GrameenPhone had 10 million customers at the end of November, he said.

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