Khulna Power makes debut Sunday
Wednesday, 14 April 2010
FE Report
Khulna Power Company Limited (KPCL), the country's first independent power producer in private sector, will make debut on DSE Sunday under direct listing regulations.
The company will sell more than 52.15 million shares to the general investors and its opening price will be Tk 194.25, which was determined by the institutional investors in line with book building method. The institutional investors participated in bidding for KPCL shares from April 4-6.
The face value of each share is Tk 10 and market lot 100 shares. Its earning per share is Tk 2.79 and net asset value Tk 18.53 as of December 2009.
Established in 1997, the KPCL owns and operates a 110 mega watt (MW) barge mounted power plant, according to the company's website. The plant came into operation in October 1998 and supplies electricity to the national grid of Bangladesh
A DSE official said the bourse has approved the listing of KPCL like Ocean Containers Limited that made debut early last-month in line with the decision of the finance ministry.
Earlier, OCL and KPCL have got the finance ministry and Securities and Exchange Commission nod to get listed with the bourses through direct listing.
The government banned the direct listing method on November 5, but the companies got the ministry's approval before the announcement of the ban.
Direct listing regulation was introduced in 2006 and since then five state-owned enterprises (SoE) and three private companies offload their shares through direct listing.
The SoEs are Power Grid Company, Dhaka Electric Supply Company, Jamuna Oil Company, Meghna Petroleum, Titas Gas Transmission and Distribution Company, and the private companies are ACI Formulation Limited, Shinepukur Ceramics Limited and Navana CNG Limited.
Khulna Power Company Limited (KPCL), the country's first independent power producer in private sector, will make debut on DSE Sunday under direct listing regulations.
The company will sell more than 52.15 million shares to the general investors and its opening price will be Tk 194.25, which was determined by the institutional investors in line with book building method. The institutional investors participated in bidding for KPCL shares from April 4-6.
The face value of each share is Tk 10 and market lot 100 shares. Its earning per share is Tk 2.79 and net asset value Tk 18.53 as of December 2009.
Established in 1997, the KPCL owns and operates a 110 mega watt (MW) barge mounted power plant, according to the company's website. The plant came into operation in October 1998 and supplies electricity to the national grid of Bangladesh
A DSE official said the bourse has approved the listing of KPCL like Ocean Containers Limited that made debut early last-month in line with the decision of the finance ministry.
Earlier, OCL and KPCL have got the finance ministry and Securities and Exchange Commission nod to get listed with the bourses through direct listing.
The government banned the direct listing method on November 5, but the companies got the ministry's approval before the announcement of the ban.
Direct listing regulation was introduced in 2006 and since then five state-owned enterprises (SoE) and three private companies offload their shares through direct listing.
The SoEs are Power Grid Company, Dhaka Electric Supply Company, Jamuna Oil Company, Meghna Petroleum, Titas Gas Transmission and Distribution Company, and the private companies are ACI Formulation Limited, Shinepukur Ceramics Limited and Navana CNG Limited.