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The Financial Express
Swasti Lankabangla Swasti Lankabangla

Proposal of determining cut-off price of Energypac Power approved

| Updated: August 11, 2020 09:48:55


Proposal of determining cut-off price of Energypac Power approved

The securities regulator has approved the proposal of determining cut-off price of the shares of Energypac Power Generation Limited (EPGL) as part of the process of offloading shares under book building method.

The regulatory approval came on Wednesday at a meeting held at the office of the Bangladesh Securities and Exchange Commission (BSEC).

As per the BSEC approval, the EPGL will raise fund worth Tk 1.5 billion from the capital market under the book building method.

As per the public issue rules, the cut-off price of the shares of company will be determined through electronic bidding.

Eligible Investors (EIs) will get shares at cut-off price, while general investors will get shares through IPO (initial public offering) at 10 per cent discount on cut-off price.

The EPGL will utilise the fund to repay bank loans, and to expand LPG project along with bearing the IPO expense.

As per the consolidated financial statement for the year ended on June 30, 2019, the company's net asset value per share is Tk 45.15 (with revaluation reserve), while the value stands at Tk 30.20 (without revaluation reserve).

For the same period, the company's earnings per share (EPS) is Tk 3.13.

LankaBangla Investments is the issue manager of the EPGL.

The company was incorporated as a private limited company on July 15, 1995. Subsequently, it was converted into a public limited company on December 27, 2011.

mufazzal.fe@gmail.com

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