Dhaka, Bangladesh (BBN) – Grameenphone (GP) Limited posted a 10 percent growth in revenue reaching to US$236 million (BDT 16.28 billion) in the second quarter (Q2) of 2009, the company reported on Thursday.
The revenue increase is attributable to a higher number of subscribers, higher average price (APPM) and increased interconnectivity revenues, due to the introduction of International Gateway (IGW) from the fourth quarter of 2008, which were partly offset by reduced fees on local interconnect calls, the company said in a press statement in Dhaka.
The company’s cumulative investment now stands at $2.08 billion (BDT 144 billion) including $ 69.56 million (BDT 4.80 billion) in 2009.
The country’s largest mobile phone operator added 106,000 subscribers during the second quarter but still saw a slight decline in subscription market share to 45 percent, the statement added.
On July 2, 2009 the GP received approval from the capital market watchdog Thursday to raise US$70.44 million (BDT 4.860 billion) issuing initial public offering (IPO), the largest of its kind in Bangladesh.
The total size of the GP issue is going to be $122.61 million (BDT 8.460 billion), of which 58.8 per cent or $70.44 million (BDT 4.860 billion) would be sold to general investors and 41.2 per cent or $52.16 million (BDT 3.599 billion) for institutions, officials said.
Norway’s telecom giant Telenor owns 62 percent of the GP, which was launched in 1997, while the remaining 38 percent is held by local Grameen Telecom. The share offloading will be proportionately spread between the two shareholders.
BBN/SS/SI/AD-24July09-4:41 am (BST)