Bangladesh-based Grameenphone’s initial public offering (IPO) has been oversubscribed more than four times.

Bangladesh-based Grameenphone’s initial public offering (IPO) has been oversubscribed more than four times. The company has raised up to $71 million from local investors. It raised a further $70 million through a three-time oversubscribed pre-IPO private share placement to local institutional investors in December 2008.