Summit Communications received the green light from the telecom regulator to go for initial public offering.

The country's leading end-to-end infrastructure support provider and gateway operator got the no-objection certificate at a recent meeting of Bangladesh Telecommunication Regulatory Commission.

Summit Communications is one of the two private companies that are responsible for providing nationwide telecom transmission network service across the country.

The company will have to apply to the Bangladesh Securities and Exchange Commission to complete the necessary formalities to go for IPO.

A senior executive of Summit Communications said they will now discuss the next plan of action at the stakeholder level.

A subsidiary of Summit Group that has close involvement in various ICT initiatives of the country, Summit Communications started its telecom transmission services in 2010.

The company has built access to over 33,000km fibre optic network across the country covering all 64 districts, 340 upazilas and more than 3,650 government offices.

It has also connected more than 2,400 base stations in metro and rural areas, according to the regulator.

The company has an ambitious plan to become the largest fibre optic infrastructure operator in the country.

In its two separate applications, Summit expressed its keen interest to increase its paid-up capital to Tk 40 crore and go for IPO.

Summit Communications also received Interna-tional Internet Gateway, International Territorial Cable and Inter Connection Exchange licences from the regulator.

Summit Technopolis, a joint venture between Summit Group and Infinity Infotech Parks of India, is responsible for developing block 2 and 5 at Kaliakoir Hi-Tech Park.