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revenue has grown 10 percent to Tk 1 , 628 crore in the second quarter
of this year from Tk 1 ,477 crore in the same period last year. "The
increasing revenue-growth trend … demonstrates that the management is
willing to make the right changes at the right time to bolster the
company during the pause in the economy," Grameenphone CEO Oddvar
Hesjedal said in a statement on Thursday. The company's cumulative
investment now stands at Tk 14 ,400 crore including Tk 480 crore in
2009. Revenue rose with the growth in the number of subscribers, and a
higher average price per minute, said GP. It was also boosted by
interconnectivity revenue after introduction of international gateway
in Bangladesh, which were partly offset by reduced fees on local
interconnect calls. Grameenphone added 106 ,000 subscribers during the
second quarter but still saw a slight decline in subscription market
share to 45 percent, the statement said. The company has adjusted its
investment in network with the current growth in subscriptions and
traffic volumes. Following the reduction in local interconnection
rates in the previous quarter, the Bangladesh Telecommunication
Regulatory Commission lowered the international call termination rate
to minimum USD 0.03 from USD 0.04 , with effect from May 19. Telenor
chief says GP going strong Jon Fredrik Baksaas, president and CEO of
Telenor, GP's parent company, said in a statement from Fornebu that
Grameenphone, among its subsidiaries, was delivering a "particularly
strong quarter, both in terms of revenue growth and Margins". Earlier
this month, the Securities and Exchange Commission gave formal
approval for Grameenphone's long- awaited IPO. The approval was
subject to satisfactory and successful completion of certain
conditions, including changing the denomination of shares from Tk 1 to
Tk 10 , and incorporating the audited financial statements for 2008 in
the IPO Prospectus. The Grameenphone IPO will be by far the largest
IPO ever completed in Bangladesh.
