Equity Analysis /
Bangladesh

Grameenphone: GRAMEENPHONE: Mobile data upside amid regulatory pressure; Hold

    Tracy Kivunyu
    Tracy Kivunyu

    Equity Research Analyst, Telecoms

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    Tellimer Research
    12 July 2018
    Published byTellimer Research
    We re-initiate coverage of Grameenphone with a Hold recommendation and a target price of BDT369.68. Our valuation is based on the implementation of the finance lease accounting framework in FY 19, without which our TP would be BDT340.05.