Summit Gazipur II Power, a 300 megawatt (MW) HFO-fired power plant, has started its commercial operation at Kodda in Gazipur, says Summit Power, which has 20 per cent stake in the plant.
The plant was brought into operation within the scheduled time on Thursday last (nine months from the date of the letter of intent), according to a disclosure posted on the Dhaka Stock Exchange (DSE) website on Sunday.
The project is being run under the private sector power generation policy of Bangladesh on build, own and operate (BOO) basis for a 15-year period, commencing on commercial operation date (COD), according to the disclosure.
Summit Power, which was listed on the Dhaka bourse in 2005, disbursed 30 per cent cash dividend for the year ended on June 30, 2017.
Each share of the power generation company closed at Tk 37.30 on Sunday at the country's prime bourse, remaining unchanged over the previous session.
The company's consolidated earnings per share (EPS) stood at Tk 1.04 for January-March 2018 quarter as against Tk 0.77 for January-March 2017.
In nine months, for July 2017-March 2018, the consolidated EPS was Tk 3.37 as against Tk 2.74 for July 2016-March 2017.
The consolidated net operating cash flow per share (NOCFPS) was Tk 3.83 for July 2017-March 2018 as against Tk 3.19 for July 2016-March 2017.
The consolidated net asset value (NAV) per share was Tk 29.09 as on March 31, 2018 and Tk 29.02 as on June 30, 2017.
The company's paid-up capital is Tk 10.67 billion and authorised capital Tk 15 billion, while total number of securities is 1.06 billion.
Sponsor-directors own 63.18 per cent stake in the company while the institutional investors 18.57 per cent, foreign investors 3.65 per cent and the general public 14.60 per cent as of March 31, 2018.
Summit Power is a subsidiary of Singapore-based holding company Summit Power International (SPI). It was incorporated in Bangladesh on March 30, 1997 and later on June 7, 2004 the company was converted into a Public Limited Company.
Presently, Summit Power owns and operates 13 power plants at different locations in Bangladesh having a total contracted capacity of 482 MW, according to the company's website information.
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