Energypac Power Generation Ltd is going to open a public subscription initial public offering (IPO) on December 7. investors can apply to buy shares till November 13. The company will collect BDT 150 crore from the capital market.
Already Energypac has gathered 50 percent of the amount through Book-building method to be introduced in the capital market. General investors will now apply for 50 percent shares. In order to execute this, the regulatory body has finalized the date for receiving IPO applications.
Earlier, eligible institutional investors in their recent biddings have set the reference price for each Energypac share at BDT 35. Individual investors will be able to purchase the remaining shares at BDT 31.50 per share after a 10% discount on the cut-off price. The company will spend its Tk 150 crore raised through IPO to expand its business, cover bank loans, and IPO expenditures.
On October 21, in the 745th general committee meeting of Bangladesh Securities and Exchange Commission (BSEC,) approval has been given to general investors to apply.
According to the company’s financial statements dated June 30, 2019, the Net Asset Value (NAV) per share, including revaluation reserves, stands at Tk. 45.11, and the Net Asset Value per share (excluding revaluation reserves) stands at Tk. 30.20. Earnings per Share (EPS) during the year, stands at Tk. 3.13. Weighted Average Earnings per Share for the last 5 year stands at BDT 2.21.
Earlier on August 06, 2020, the BSEC in its 734th meeting, gave consent to the company to start electronic bidding. LankaBangla Investments Limited is given the charge for the company’s Issue Manager.
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