Robi Axiata will hit the trading floors in Dhaka and Chittagong Stock Exchange on Thursday. The company will start trading under N category with the trading code ‘ROBI’.
With 523.7 crore taka initial public offering (IPO), Robi’s debut is going to to be the largest-ever issue in the history of the country’s capital market.
As expected, such monumental listing had been oversubscribed by 5.74 times. Robi submitted its IPO application to the Bangladesh Securities and Exchange Commission (BSEC) on the 4th of March this year to float 10 percent (including employee shares) or 523.7 million of the shares under the fixed-price method.
BSEC approved Robi’s IPO on the September 23 this year, allowing it to raise funds by issuing shares at 10 taka per share. A total of 12 lakh 80 thousand 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 the 24th of December, 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.”