Grameen Phone—A Hot Stock

Among the many social-business ventures that Grameen Bank has started, the GrameenPhone has become one of the most successful. With more than one million low-income and poor subscribers in Bangladesh, and shares offered on various stock exchanges, GrameenPhone has become a “hot stock.”
On September 12, Grameen-1 was the leader in top trade turn-overs. Its 1.04 million shares valued at Tk 24.02 million (365,996USD) changed hands and the price of the issue closed at Tk 23.00 (.35USD).

GrameenPhone, South Asia’s largest cell phone service, earned after-tax profits of more than $50 million in 2002. Ultimately, the Grameen organization intends to sell GrameenPhone shares to Grameen borrowers so that telephone services are not only brought to the poor, but also owned by the poor.

Additional Resources

1) “Global Academy Presses Social-Business Ventures.”
2) “Both Bourses Witness Rice in Price Indices.”
3) MicroCapital Blog: “The Real Digital Divide.”

Similar Posts: