Energypac bidding begins September 21
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Energypac bidding begins September 21

Stocks

TBS Report
03 September, 2020, 09:30 pm
Last modified: 03 September, 2020, 09:40 pm

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Energypac bidding begins September 21

The company that started business in July 1995 is engaged in diversified businesses broadly categorised as power and energy and commercial automobile sectors

TBS Report
03 September, 2020, 09:30 pm
Last modified: 03 September, 2020, 09:40 pm
Logo of Energypac
Logo of Energypac

Price-bidding based on book building method to fix the share price of Energypac Power Generation Limited's initial public offering (IPO) will begin at 5:00 pm on September 21 and will continue till 5:00 pm on September 24 at the Dhaka Stock Exchange in the capital, said sources. 

The company that started operation in July 1995 is engaged in diversified businesses broadly categorised as power and energy and commercial automobile sectors.

Earlier, the Bangladesh Securities and Exchange Commission (BSEC) allowed Energypac Power Generation to determine the cut-off price of its shares through eligible investors' bidding – a requirement for going public under the book building method.

Only institutional investors can participate to explore the cut-off price of the company's shares under the electronic bidding process. Besides, it will be set based on the bids submitted by the investors.

Although institutional investors are supposed to purchase shares of the company at the cut-off price, individual investors will get the scope for purchasing the shares at 10 percent discounted price through IPO.

Energypac Power Generation Ltd wants to raise Tk150 crore through IPO.

The company will use the IPO proceeds to expand its business, repay bank loans and cater expenditures for the IPO process.

According to the audited financial statement as of June 30, 2019, the company's consolidated earnings per share were Tk3.13. Its net asset value per share was Tk45.15 including re-evaluated reserve and Tk30.20 excluding re-evaluated reserve.

Besides, the company's weighted average earnings per share were Tk2.21. 

LankaBangla Investment Limited is the issue manager for the company's IPO.

Economy / Top News

Energypac / Stock

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