Banglalink Digital Communications Limited, the third-largest telecom service provider in Bangladesh, is interested in getting listed on the local stock exchanges.
Senior officials of Banglalink on Monday held a meeting with Bangladesh Securities and Exchange Commission (BSEC) Chairman Shibli Rubayat-Ul-Islam to discuss the listing procedures and benefits at BSEC Bhaban in Dhaka’s Agargaon.
The company expressed its intention to raise funds from the country’s capital market by offloading 10 per cent of its paid-up capital.
VEON Co-founder and Chairman Emeritus Augie K Fabela II and Chief Executive Officer Kaan Terzioglu, Banglalink CEO Erik Aas and Chief Financial Officer Cem Velipasaoglu were present in the meeting.
Banglalink is fully owned by Malta’s Telecom Ventures Ltd (previously Orascom Telecom Ventures Ltd), a 100 per cent owned subsidiary of Global Telecom Holding, which is, in turn, a subsidiary of the Dutch holding company VEON.
BSEC officials said that the Banglalink officials discussed the process and benefits of listing on the market and expressed their interest in listing on the stock market in Bangladesh.
BSEC spokesperson Rezaul Karim said the telecom operator has shown interest in coming to the capital market. This is very positive for the capital market.
He said Banglalink has been assured of full cooperation in the matter of listing on the stock market.
Launched in February 2005, with over 33.69 million subscribers over a decade, Banglalink was the catalyst in making mobile telephony an affordable option for consumers in Bangladesh.
