BSEC approves Robi’s IPO

The Bangladesh Securities and Exchange Commission (BSEC) on Wednesday approved the prospectus for initial public offering (IPO) of mobile operator Robi to raise Tk523.80 crore.

The stock market regulator gave the approval at a commission meeting held in the capital on the day.

BSEC chairman Prof Shibli Rubayat-Ul-Islam presided over the meeting.

Under the fixed price method, Robi will offload 523,800,000 shares for Tk10 each.

The main objective of the IPO is to expand its existing network coverage. The proceeds from the proposed listing will be used to fund Robi’s capital expenditures.