Energypac Power Generation's bidding to fix the cut-off price of shares commences today (Monday) while share bidding of Mir Akhter Hossain, a construction company, is set to open September 27.
Energypac Power Generation:The power generation company's bidding through electronic subscription system (ESS) of the exchanges will be continued until 5:00pm on September 24 (round the clock).
The valuation report submission period for eligible investor through ESS will start at 10:30am on September 27 and continue till 10:30am on September 29, 2020.
Only the eligible investors can participate to explore the cut-off price of the company's shares under the electronic bidding process.
Each eligible investor who intends to participate in the electronic bidding for the Energypac Power shares shall maintain a minimum investment of Tk 10 million in listed securities as on the end of September 13 as per the Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2015.
The minimum tick size (minimum bidding value) for bidding shall be Tk 5.0 million which is accordance with the BSEC consent letter to Energypac Power dated August 16, according to the disclosure.
The stock market regulator allowed Energypac Power to explore its cut-off price on August 6 - a requirement for going public under the book building method.
As per the regulatory approval, the power generation company will raise a capital worth Tk 1.50 billion from the capital market to expand the LPG business and repay bank loans.
Book building is a process through which an issuer attempts to determine the price to offer for its security based on demand from eligible institutional investors.
The eligible investors will get 50 per cent shares at the cut-off price which will be set through electronic bidding.
The remaining 50 per cent shares will be opened to the IPO participants, including general investors and non-resident Bangladeshis, at a 10 per cent discount on the cut-off price, according to the book-building method.
Apart from LPG business expansion and loan repayment, the company's IPO proceeds will be used to bear the cost of public offering process.
LankaBangla Investments Ltd is the issue manager of the company's IPO process.
As per the consolidated financial statement for the year ended on June 30, 2019, the company's earnings per share (EPS) was Tk 3.13, the net asset value per share was Tk 45.15 (with revaluation reserve), while the value was Tk 30.20 (without revaluation reserve).
Mir Akhter Hossain: Price-bidding for eligible investors (EIs) to fix the cut-off price of shares of Mir Akhter Hossain Ltd, a construction company, will commence from September 27.
The construction and engineering company's price bidding will be continued until 5:00pm on September 30.
The valuation report submission period for eligible investors through ESS will start at 10:30am on October 1 and continue until 10:30am on October 5.
Each eligible investor who intends to participate in the electronic bidding for the company's shares shall maintain a minimum investment of Tk 10 million in listed securities as on the end of September 17 as per Public Issue Rules, 2015.
The minimum tick size (minimum bidding value) for bidding shall be Tk 5.0 million which is accordance with the BSEC consent letter to Mir Akhter Hossain dated August 23.
The stock market regulator allowed Mir Akhter Hossain to explore its cut-off price on August 13 - a requirement for going public under the book building method.
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