Robi set to debut in capital market on Dec 24

One of the country’s leading digital service provider, Robi Axiata Limited, is going to hit the trading floors in Dhaka and Chittagong Stock Exchange on December 24. The company will start trading under “N” category with the trading code “ROBI.”

With Tk523.7 crore initial public offering (IPO), Robi’s debut is going to be the largest-ever issue in the history of the country’s capital market, reads a press release.

As expected, such a monumental listing had been oversubscribed by 5.74 times.

Robi submitted its IPO application to the Bangladesh Securities and Exchange Commission (BSEC) on March 4 this year to float 10% (including employee shares) or 52.37 crore of the shares under the fixed-price method.

BSEC approved Robi’s IPO on September 23 this year, allowing it to raise the funds by issuing shares at Tk10 per share.

A total of 1,280,425 IPO applications were submitted for Robi's IPO, out of which 465,290 applicants were selected as winners through lottery.

Robi’s company code for Dhaka Stock Exchange (DSE) is 27003 under Telecommunication sector, while the same for Chittagong Stock Exchange (CSE) is 26003.

Prior to the much-awaited debut on December 24, a Listing Agreement signing ceremony will take place on the same day at 9:30 am in DSE’s office at Nikunja. The agreement will be signed by the management of Robi and DSE.

Robi’s Chief Corporate and Regulatory Officer Shahed Alam said: “We are immensely proud to be on the verge of making our debut in the stock markets with the largest ever IPO. We express our heart-felt gratitude to BSEC, DSE, CSE, CDBL, BUET, and of course, our visionary regulator, BTRC, for all the support and assistance extended to us in making this listing possible.

“Our focus will now turn to make sure we deliver the most innovative digital lifestyle solution to our customers while safeguarding the interest of our valued local and foreign shareholders,” he added.