Bangladesh's largest cellular company Grameenphone Ltd Thursday filed its final application with the country's capital market regulatory body for floating shares of 65 million U.S. dollars through initial public offering (IPO).

The price for the IPO of the Grameenphone, mostly owned by Norwegian Telenor, has been proposed in the company's final application at 7.00 tanka (about 10 U.S. cents) per share, the cellular company said in a statement on Thursday.

Grameenphone, which provides services to nearly half of the country's 43.49 million mobile subscribers, in its application expected that the subscription period for floating shares through IPO to be late January or early February next year.

Earlier, the company also successfully closed the marketing of a pre-IPO private placement of its shares amounting to 60 million U.S.dollars to local institutional investors on Dec. 4, 2008.

"We are proud of our achievement in having reached this milestone. We remain committed to contributing to the development of the capital markets of Bangladesh and look forward to a successful completion of the largest IPO in the country," Oddvar Hesjedal, CEO of Grameenphone, was quoted as saying in the statement.

According to data of the Bangladesh Telecommunication Regulatory Commission, Grameenphone has 20.79 million customers until October this year, which is 47.8 percent of the total number.

The company has so far invested more than 1.6 billion U.S. dollars to build the network infrastructure since its inception in 1997.