Khulna Power to offload 5,21,48,250 shares
Thursday, 11 March 2010
FE Report
Country's private power plant --- Khulna Power Company limited (KPCL) received an indicative price of Tk. 162 from seven institutional investors prior to institutional bidding process under the Book Building Method.
The authorities of KPCL disclosed this in a seminar Wednesday on Direct Listing Procedure arranged at a hotel in city.
KPCL will offload 5,21,48,250 ordinary shares, which will have a face value of Tk. 10 each.
Eligible institutional bidders shall bid for formal price building with an upward and downward of 20 per cent of indicative price.
In that case, the highest and lowest price of KPCL's shares will be of Tk. 194.40 and 129.60 respectively.
The institutional investors will buy at their quoted price and the general investors will do so at the cut off price or above that.
Chittagong Stock Exchange President said KPCL is likely to be listed within 20 days.
Authorities said indicative price is fixed in consultation with the issue manager and prices offered by the eligible institutional investors through proper disclosure, presentation and documentation.
"Its not a time to offload the shares of a company through primitive method. Book Building Method has been introduced to find out the market price, which will be acceptable to all," Fakhor Uddin Ahmed, the president of CSE, said at his speech.
KPCL is an Independent Power Producer established in 1997.
Country's private power plant --- Khulna Power Company limited (KPCL) received an indicative price of Tk. 162 from seven institutional investors prior to institutional bidding process under the Book Building Method.
The authorities of KPCL disclosed this in a seminar Wednesday on Direct Listing Procedure arranged at a hotel in city.
KPCL will offload 5,21,48,250 ordinary shares, which will have a face value of Tk. 10 each.
Eligible institutional bidders shall bid for formal price building with an upward and downward of 20 per cent of indicative price.
In that case, the highest and lowest price of KPCL's shares will be of Tk. 194.40 and 129.60 respectively.
The institutional investors will buy at their quoted price and the general investors will do so at the cut off price or above that.
Chittagong Stock Exchange President said KPCL is likely to be listed within 20 days.
Authorities said indicative price is fixed in consultation with the issue manager and prices offered by the eligible institutional investors through proper disclosure, presentation and documentation.
"Its not a time to offload the shares of a company through primitive method. Book Building Method has been introduced to find out the market price, which will be acceptable to all," Fakhor Uddin Ahmed, the president of CSE, said at his speech.
KPCL is an Independent Power Producer established in 1997.