MNA Business Desk: Energypac Power Generation Limited has received approval for the initial public offering (IPO) through the book-building process.
The securities regulator Bangladesh Securities and Exchange Commission (BSEC) it its 734th commission meeting gave the approval for fixing the company’s cut-off price through electronic bidding with BSEC chairman Shibli Rubayat Ul Islam in the chair, according to a press release.
Through IPO, Energypac will raise BDT 150 crore from the capital market. The IPO proceeds will be used to expand the LPG business, repay bank loans and meet the cost of the IPO process.
According to the consolidated financial report, for the fiscal year ended June 30, 2019, the company’s net asset value per share (NAVPS) with revaluation reserves is BDT 45.15 and NAVPS without revaluation reserves is BDT 30.20. LankaBangla Investments Limited, issue manager of the company’s IPO, is responsible for the issue management of the company.
Since its inception, Energypac Power Generation Limited has been the pioneer in the power and energy sector of Bangladesh.
Energypac Power Generation Limited, one of the leading electro-mechanical engineering companies in Bangladesh, was founded in 1995. Since its inception, the company has been the pioneer in the power and energy sector of Bangladesh.