In a statement to the media at the time of the IPO fundraiser, Shahed Alam Robi Axiata, head of corporation and regulation, said: “We hope that the average man in this country will be a partner in developing the largest network by participating in the largest IPO.”
After listed on the stock exchange, Robi Axiata will be the largest capital company in the Bangladesh market. Therefore, after listing Robi, the market capitalization will also increase significantly, said market participants. IDLC Investments is responsible for managing the issuance of shares in the company.
When Robi goes public, it will be the second listed company among the country’s mobile phone operators. Earlier in 2009, Grameenphone was listed on the stock exchange as the number one mobile phone operator.
Currently, two companies in the telecommunications sector are listed. One is Grameenphone, the other is a government-owned submarine cable company. Once Robi is listed, the number of companies in the sector will rise to three.
Last October, the Bangladesh Securities and Exchange Commission (BSEC) capital market regulator approved Robi’s IPO application.