GP Grameenphone Ltd

INVESTOR ALERT: Lundin Law PC Announces Securities Class Action Lawsuit against Graña y Montero SAA and Encourages Investors with Losses to Contact the Firm

Lundin Law PC, a shareholder rights firm announces a class action lawsuit against Graña y Montero SAA (“Graña” or the “Company”) (NYSE: GRAM). Investors who purchased or otherwise acquired Graña shares between April 30, 2014, and February 24, 2017, inclusive (the “Class Period”), are encouraged to contact the firm in advance of the April 28, 2017 lead plaintiff deadline.

To participate in this class action lawsuit, click here, or call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at [email protected].

No class has been certified in the above action yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.

On February 24, 2017, it was announced that Graña was aware of $20 million in bribes given to former President Alejandro Toledo by Brazilian firm Odebrecht SA. Graña y Montero helped Odebrecht on two parts of a project to pave a road from the Peruvian Amazon to Brazil.

When this news was revealed to the investing public, the value of Graña dropped, causing investors harm.

Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

EN
28/02/2017

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Grameenphone Ltd

A K M Arif Uzzaman Arif Uzzaman
  • A K M Arif Uzzaman Arif Uzzaman

Equity Note on Grameenphone Ltd. (GP)

Grameenphone Ltd. (GP) is primarily engaged in providing mobile telecommunication services (voice, data and other related services), along with digital services in the country. The company also provides international roaming services through international roaming agreements with various operators in different countries across the world. GP generated majority of its revenue from voice segment, constituting an average of 59.2% of its total revenue from FY’19 to FY’23. Additionally, the company e...

Md. Ifrat Khan
  • Md. Ifrat Khan

Grameenphone: c30% yoy earnings growth driven by BDT 2.4bn net provisi...

GP paid BDT 17.7bn for the settlement of regulatory disputes: BDT 7.8bn to NBR for the settlement of tax disputes till 2018 and BDT 9.9bn payment to BTRC considering the written judgment for the case relating to VAT mechanism and spectrum assignment fee during 2G license renewal. Operating profit remained flat: 5.6% Revenue growth was offset by increase in non-cash expense (Depreciation and Amortization). c30% earnings growth was driven by Net provision reversal of BDT 2.4bn. Because of cash ...

Humayra Afroz ... (+2)
  • Humayra Afroz
  • Tanay Roy

How did multinational companies perform in Jan-Mar 2023?

* The cumulative profits of Multinational Companies (MNCs), excluding BERGERPBL, increased by c5% yoy in Jan-Mar 2023. * Consumer staple companies experienced continued growth, performing well during the quarter: * MARICO’s profit grew c. 25% this quarter because of profitability improvement driven by lower copra price and opex management * RECKITTBEN resumed topline growth and generated strong earnings growth by trimming operating expenses * All construction companies ...

Md. Ifrat Khan ... (+2)
  • Md. Ifrat Khan
  • Tanay Roy

Grameenphone: Q1 CY23 Earnings Update:: c4% yoy earnings decline

GP posted c4% yoy profit decline in Q1 CY23. The earnings decline was mainly driven by the rise of finance expense and depreciation cost, totaling to BDT 1.8bn. It had BDT 0.8 impact in Q1 CY23 EPS after tax adjusted basis. 2.8% yoy revenue growth reported in Q1 CY23. In Q1 CY23, Revenue stood at BDT 37,348mn against BDT 36,335mn in Q1 CY22 which indicates 2.8% yoy revenue growth. Revenue growth was mainly driven by 14.2% data revenue growth yoy. ARPU is growing for the last five quarters. Th...

Shopnil Paul ... (+2)
  • Shopnil Paul
  • Tanay Roy

Restriction on Grameenphone SIM card sale is withdrawn

On 29th June, 2022, on the ground of the poor service quality, the Bangladesh Telecommunication Regulatory Authority (BTRC) imposed a ban on selling new and old SIM Card for Grameenphone and instructed them to improve their service quality, especially to bring down the call drop rate. Because of the high demand for Grameenphone SIM, on 20th November 2022, BTRC allowed GP to sell 78,000 SIM cards to selective public and private corporate clients, including Bangladesh Armed Forces. Finally, BT...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch