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KPCL to acquire 35pc stakes of United Payra Power

| Updated: December 16, 2019 11:24:39


KPCL to acquire 35pc stakes of United Payra Power

The board of directors of Khulna Power Company Ltd has decided to acquire 35 per cent ordinary shares of United Payra Power Plant, subject to obtaining regulatory approvals of relevant authorities.

United Payra Power Plant Ltd has executed a power purchase agreement dated on August 21 this year with Bangladesh Power Development Board.

Implementation agreement with the government dated August 21 this year (together “the project agreements”) to develop a 150 MW HFO Power Plant at Patuakhali, Bangladesh on Build Own Operate (BOO) basis for 15 years from the date of commercial operations.

The required commercial operation date (RCOD) of the power plant is November 21, 2020 in accordance with the terms of the project agreements.

Each share of the company, which was listed in Dhaka bourse in 2010, closed at Tk 39.10 on Wednesday.

Its EPS was Tk 1.11 for July-September 2019 as against Tk 1.53 for July-September 2018.

The company has approved 40 per cent cash dividend for the year ended on June 30, 2019.

In 2018, it disbursed 30 per cent cash and 10 per cent stock dividend.

The company’s paid-up capital is Tk 3.97 billion and authorised capital is Tk 7.0 billion while total number of securities is 397.41 million.

The sponsor-director own 69.99 per cent stake in the company, while the institutional investors own 11.46 per cent, foreign investors 0.72 per cent and the general public 17.83 per cent as on November 30, 2019, the DSE data showed.

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