E-bidding begins to set Energypac IPO cut-off price

Staff Correspondent

22 September, 2020 12:00 AM printer

E-bidding begins to set Energypac IPO cut-off price

Energypac Power Generation Limited has started the e-bidding process on Monday to set the cut-off price through electronic bidding in the book-building method to raise money from the share market.

The bidding has started yesterday and will continue till September 24. 

The company will collect TK 1.50 billion from the CAPITAL market through IPO.

The collected amount will be allotted for business expansion, returning bank loans, and bearing IPO operational charges.

According to the consolidated financial statements for the financial year ended June 30, 2019, the company’s net asset value per share (NAVPS) with revaluation reserves is Tk 45.15, and NAVPS without revaluation reserves is Tk 30.20.

Bangladesh Securities and Exchange Commission (BSEC), in the 734th meeting, has given permission to Energypac Power Generation Ltd to determine their cut-off price through electronic bidding on August 05, 2020.  LankaBangla Investments Ltd is in charge of maintaining the company’s issues.

Energypac Power Generation Ltd, one of the country’s leading electro-mechanical engineering organizations, was established in 1995. Energypac Power Generation Ltd is mainly an employee-owned organization since the employees of Energypac own a significant amount of the company shares. The distribution of profit among the employees is maintained under certain established policies.