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Broadband

Bangladesh Submarine Cable plans IPO

Monday 7 February 2011 | 01:39 CET | News

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Government-owned submarine cable company Bangladesh Submarine Cable plans to sell 31 million shares in an initial public offering of shares. Each share has a face value of BDT 10, and the indicative price for the IPO has been set at BDT 90 per sare. The company will sell the shares in line with the government's policy to strengthen the capital markets and to sell shares in government-owned companies. Following approval of the prospectus, book-building will set the final price for the IPO. In its most recent quarterly report to 30 September 2010, the company generated a net profit of BDT 83

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Categories: Fixed
Companies: Bangladesh Submarine Cable
Countries: Bangladesh
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Comments

31m x BT10 = BT310 million (not billion)! which figure is correct?
M Mirza @ 7/2/2011 - 12:30
Telecompaper response: BDT 10 is the face value of the shares. This story has been corrected by Telecompaper.



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