The company has been working on this issue for the last six months and also has taken some measures to form a competent management as part of its preparation for initial public offering (IPO).

"Although we have been working on the issue for six months, we need a strong management having expertise on the market," Yusof Annuar Yaacob, chief executive officer of Telekom Malaysia (TM) told The Daily Star at the TM headquarters in Kuala Lumpur last week.

"We will come in the market in a span of two to three years," he laid bare the company's plan.

In the meantime, the company has already communicated the matter to Bangladesh's prime bourse, Dhaka Stock Exchange (DSE).

There exists enthusiasm among the investors about share-offloading by any of the four mobile phone companies now in operation in the country, according to the market insiders.

"It is too early to comment on the matter because we have just started working on it," a DSE high official said, hinting at an immediate meeting between the two sides.

On the off-loading of AKTEL shares, Group CEO of TM International Dato Abdul Wahid Omar said to this correspondent during his visit to Kuala Lumpur,

"It would be better for us if we are enlisted in the market as the first mobile company".

He, however, cautiously expressed his concern if there is enough liquidity in the Bangladesh's capital market.

The DSE source said the existing market behaviour indicates that such liquidity is now sufficient.

"The share market will definitely be strengthened on arrivals of the cellphone companies because the transaction will also show a significant rise," the bourse official opined.

Yusof Annuar Yaacob is also hopeful of getting 'tremendous response from the investors'.

Narrating his Sri Lankan experience, he said the market price of TM's Dialog, a cell phone company, surged from 12 rupees to 27 rupess within a year over there.

TM started its telecoms business in Bangladesh in 1996 in association with a local AK Khan & Co. Limited and launched mobile phone operation under the brand name AKTEL the following year. The Malaysia-based company owns a total of 70 percent shares of AKTEL.