Energypac Power gets BSEC approval to go public

Energypac Power Generation Limited has received approval for the initial public offering (IPO) through the book-building process. Bangladesh Securities and Exchange Commission (BSEC) in a recent meeting gave the approval for fixing the company's cut-off price through electronic bidding. Through IPO, Energypac will raise BDT 1.50 billion 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.

— Statement