Grameenphone share sale shrinks to $125 million

The pending sale of shares in Grameenphone, Bangladesh's largest mobile phone company, has shrunk in size to $125 million from the $300 million that had been originally proposed, according to a source.

The total deal, which will precede a domestic listing, was initially to be broken into two $150 million chunks: a pre-IPO private placement aimed largely at international investors and an initial public offering of primary shares in Bangladesh. The private placement has now dropped to $50 million and been extended until the end of October – though it has an upsize option subject to ...