GP IPO lottery receives unprecedented participation
Oct 28, 2009
The Grameenphone IPO Lottery was concluded at the Bangabandhu International Convention Center (BICC) today, 28 October 2009, amidst huge, unprecedented participation from investors and the interested general public.
Thousands members of the general public made their way to the BICC, resulting in over 20,000 people visiting the lottery venue through the morning. The IPO lottery was conducted under the management of the Bureau of Research, Testing & Consultation (BRTC). BRTC is the consultation wing of the Bangladesh University of Engineering & Technology (BUET).
Among the senior officials and dignitaries, Mr. Md. Rakibur Rahman, President, Dhaka Stock Exchange Ltd.; Mr. Fakhor Uddin Ali Ahmed, Senior Vice-President, Chittagong Stock Exchange Ltd.; Mr. Oddvar Hesjedal, CEO, and Mr. Raihan Shamsi, Chief Corporate Affairs Officer & Company Secretary, of Grameenphone Ltd., were present.
Thanking the regulators, Issue Managers, and Post Issue Managers for their guidance and helping in taking the process forward so smoothly, the Grameenphone CEO said that “as we end this day, we will have converted Grameenphone from a company that is not only close to the people but a company that the people are also close to as well.”
The lottery and the subsequent tasks were completed very efficiently and the lottery results were posted on the board at the venue, uploaded onto the websites of GP, DSE & CSE, as well as, made available through SMS request by 2:30 pm.
In total 312,501 shares were allocated with 277,757 for resident Bangladeshis, 34,720 allocated to Non-resident Bangladeshis and 24 to Mutual Funds.
Trading of the Grameenphone share at the Chittagong and Dhaka stock exchanges is anticipated to commence in November 2009; subject to approval from the regulators and stock exchanges.
The Grameenphone IPO has been by far the largest IPO ever in the Bangladesh capital market and has generated great interest locally and abroad.