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Energypac Power Generation IPO: Institutional investors allowed to submit indicative price by Oct 1

The road show for book building of Energypac Power Generation IPO in progress in a city hotel Saturday night.

The road show for book building of Energypac Power Generation IPO in progress in a city hotel Saturday  night.

The Energypac Power Generation will offload 45.4 million ordinary shares in the capital market under the book building method with a view to build up two separate plants and repay the bank loans.

The company authority Saturday made the announcement through a road show held Saturday ( 28 September 2013) in a hotel in the capital.

As per the presentation made to forecast the company’s potentiality and IPO (initial public offering) process, the indicative price will be revealed after October 1 next.

And the eligible institutional investors will be allowed to submit indicative price by October 1, 2013.

Among 45.4 million ordinary shares, which will be offloaded, eligible institutional investors will be able to purchase 40 per cent shares, mutual funds 15 per cent, non-resident Bangladeshis (NRBs) 10 per cent and general investors 35 per cent.

As the IPO proceeds, the IPO funds will be used for building up two separate plants–LPG Storage and Bottling and Condensate Fractionation, repayment of bank loans and to bear the IPO expenses.

When asked, whether a substantial amount of IPO money will go for the repayment of bank loan the company authority said the power plants are their first priority to accelerate the company’s growth.

According to the presentation, the Energypac Power Generation is engaged in supply of base load generators, JAC brand automobiles and construction machinery along with installing power plant under engineering, procurement and construction contracts, installation of CNG refueling station and conversion kits.

IDLC Investments has been appointed as the company issue manager.

At the road show, arranged as part of going public through book building method, among others, the Energypac Managing Director Humayun Rashid, IDLC Finance Managing Director Selim R. F. Khan, Managing Director of IDLC Investments Md. Moniruzzaman were present.

 

– FE Report/http://www.thefinancialexpress-bd.com/index.php?ref=MjBfMDlfMzBfMTNfMV84OV8xODUzMDM=

 

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