Biggest IPO of the country begins

The initial public offerings (IPO) of Robi-Axiata is starting today, meaning that investors will be able to bid for the shares of the company. 

Both general and eligible investors, including the non-resident Bangladeshis will be able to apply in the IPO, which is by far the biggest one in the history of Bangladesh.

The IPO will only remain active for a week and close on November 23. 

Robi Axiata will issue 52.37 crore shares on the market. With each share having a face value of Tk 10, the company is going to raise Tk 523.79 crore from its IPO alone.  

The company already said that 98.47 percent of the money obtained from the IPO will be spent on network expansion, while the rest 1.53 percent has been considered as estimated IPO expenses. 

The number of shares that will go to the public accounts for 10 percent of the company’s total number of shares. The rest of the 90 percent will remain to the company for now. 

With earnings per share (EPS) of Tk0.04 in the year 2019, Robi’s shares may not look like much of a deal at first glance. But the rapid growth and influence over the local market of the company, stability and the biggest IPO are what made the investors make a run for its shares.