A total of 465,290 applicants were selected using the lottery draw out of 1,280,425 applicationsRobi on Thursday held the lottery draw for allocation of its record-setting initial public offering (IPO) among general investors. A total of 465,290 applicants were selected using the lottery draw out of 1,280,425 applications. Applications submitted for the IPO exceeded the IPO amount by 5.74 times, indicating a high demand for the stock among investors. Robi Axiata is a joint venture between Axiata Group Berhad of Malaysia and Bharti Airtel of India. In 2010, it was rebranded as ‘Robi’ with the company changing its name to Robi Axiata.

Source: Dhaka Tribune December 10, 2020 18:11 UTC