The New Nation - Internet Edition

Staff Reporter

Banglalink is expected to enter the capital market with 10 per cent market share by the end of 2008, said the Chief Executive Officer of Orascom Telecom Rashid Khan.

"Meetings with the Securities and Exchange Commission (SEC) is underway to determine how many shares and at what price they should be offered at open share market," he said.

Moreover he also said that the company has set its subscription target up to five crore by the end of 2008. "Following current market expansion, Banglalink is expected to grow 5 crore mobile connections by the end of 2008," he added.

Rashid Khan was addressing a press briefing yesterday, held in the capital to formally announce the 3rd Quarter financial results for 2007 of Banglalink.

According to him, the Orascom Telecom Holding (OTH), the holding company of Banglalink has added over 27 lakhs subscribers to its base till September 2007, which is the 2nd highest share of net addition in the industry.

"Banglalink has consolidated its position and increased overall market share to 18.9 per cent at the end of Q3 2007, compared to 15.3 per cent at the same period a year earlier," said Rashid Khan.

"At the quarter end, Banglalink operates 60 lakhs subscribers and posted a year-to-date revenue of Tk 926 crore (US$133 million). Both the figures doubled over the past 12 months as the subscriber base was 27 lakhs and revenue was Tk 440 crore for the same period last year," he explained.

Therefore, Banglalink has consolidated its number to 2nd position in the market to revenue terms, said the CEO of Banglalink.

At the Press briefing, he also extended his sympathy to the cyclone survivors and recalled Tk3.5 crore donations by the Chairman at the very next day.

"Banglalink has always been a company for the people and will stand beside them in every needs," Rashid Khan said.

He also mentioned his company's SMS service and upcoming Bangla Music Festival 2007, to collect donations for the cyclone victims. "Collected amounts from both the services will be donated to the Chief Advisor's Relief Fund," he ended.