Banglalink plans to go public
The telecom service provider will offload 10% shares through an IPO
Banglalink is now planning to go public following suit of Grameenphone and Robi Axiata.
Bangladesh's third-largest telecom service provider plans to offload 10 per cent share of its paid-up capital worth about Tk 900 crore through an initial public offering under the fixed price method.
Mohammad Rezaul Karim, spokesperson of Bangladesh Securities and Exchange Commission (BSEC), confirmed that Banglalink Digital Communications Limited has expressed its plan to get listed in the stockmarket.
A number of senior officials of Banglalink led by Kaan Terzioglu, chairman of Banglalink Board and group chief executive officer of Veon, met with Shibli Rubayat-Ul-Islam, chairman of BSEC, to discuss the listing issues today.
Banglalink is fully owned by Telecom Ventures Ltd (previously Orascom Telecom Ventures Ltd) of Malta, which is a 100-per cent owned subsidiary of Global Telecom Holding, which is, in turn, a subsidiary of the Dutch holding company Veon.
Launched in February 2005, Banglalink's revenue rose 12.1 per cent year-on-year to Tk 5,374 crore in 2022, according to the earnings report published by the telecom operator's parent company Veon Ltd.