Published:  02:07 AM, 26 October 2020

Energypac approved for IPO

Energypac Power Generation has received approval for their initial public offering (IPO) from the regulatory authority Bangladesh Securities and Exchange Commission (BSEC) to raise capital from the stock market. The approval was issued at the 745th BSEC general commission meeting held on October 21, 2020, said a press release.Through this approval, the company is now eligible to issue 2,01,46,800 general shares at Tk 31 (10 percent discount on cut-off price) to raise 62,45,50,800 taka from the general investors.

Previously the eligible investors had set their cut-off price at Tk 35 for the organization through book building method. The company will spend itsTk 150 crore raised through IPO to expand its business, cover bank loans, and IPO expenditures.

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 Tk 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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