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4 million users. Proceeds from the Dialog share issue will fund its future network expansion which will help add some 500,000 more customers to its current base of over 1.4 million users. Dialog will collect between US$ 5.69 million and US$ 8.54 million depending on how investors bid in the book-building style share issue priced within a range of Rs.
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8.00 and Rs. 12.00. The issue opens July 07, 2005.
The mobile operator already has a capital investment of about US$ 70 million which has paid for a 500 tower strong coverage map spread across most population centres in the island.
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Based on current growth and international trends, Dialog expects Sri Lanka’s mobile penetration to reach 34 percent in 2008.
A Dialog statement on Monday said in keeping with emerging potential, the mobile operator is confident of maintaining its market share (of approx 60 percent) in Sri Lanka’s cellular industry.
Dialog officials say after 6 million subscribers by 2008 Sri Lanka’s mobile market, which is currently posting o