Energypac Power Generation will make its shares trading debut today (Tuesday) on Dhaka Stock Exchange and Chittagong Stock Exchange under "N" category.
DSE trading code for Energypac Power is "EPGL" and company code is 15,322 while CSE code is "EPGL" and scrip ID is 20,022, according to official disclosures on Monday.
Energypac Power raised Tk 1.50 billion under the book-building method by issuing a total of 40.30 million ordinary shares to expand its LPG business, repay some bank loans and bearing the IPO expenses.
The stock market regulator -- Bangladesh Securities and Exchange Commission (BSEC) -- approved the company's IPO proposal on October 21, 2020.
The IPO subscription for shares of the company was held between December 7 and December 13, 2020.Its IPO was oversubscribed by 6.91 times.
Earlier the company completed electronic bidding and explored its cut-off price of shares - a requirement for going public under the book building method.
The cut-off price of Energypac shares had been fixed at Tk 35 each. However, general investors, including non-resident Bangladeshis, got IPO shares at a 10 per cent discount on the cut-off price of Tk 31 each.
As per un-audited Q1 consolidated financial statement, the company's profit after tax is Tk 66.48 million and basic EPS of Tk 0.44 for the period for July-September, 2020 as against profit after tax of Tk 131.61 million and basic EPS of Tk 0.88 for the same period of the previous year.
However, post-IPO basic EPS for the period of July-September 2020) ended on 30 September 2020 would be Tk 0.35.
The pre-IPO net asset value (NAV) per share (considering pre-IPO paid up shares) is Tk 50.43 as on 30 September 2020 and the same is Tk 47.64 (considering post-IPO paid up shares).
The company's pre-IPO paid up capital is more than Tk 1.49 billion and authorised capital is Tk 5.0 billion.
Apart from LPG business expansion and loan repayment, the company's IPO proceeds will be used to bear the cost of the public offering process.
LankaBangla Investments is the issue manager of the company's IPO.
Founded in 1995, Energypac Power has diversified business in the sectors like power generation, energy, infrastructure, commercial automotive, industrial and commercial building and assembling and manufacturing.
Energypac has established the Steelpac brand for designing, manufacturing and erecting pre-engineered steel buildings. It also provides complete steel constructions for industrial, commercial and residential steel buildings.
The company has also entered the LPG market with the brand name G-Gas. G-Gas is the company's one of the pioneering brands in the energy sector, which currently offers household, commercial, bulk LPG and autogas solutions across the country.
Following the trusts and growing demand of G-Gas, the company has taken effective measures with thriving steps to expand and develop its LPG infrastructure.
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