IPO lottery of United Power Generation & Distribution Company Limited was held Thursday at the Institution of Engineers in the city for allocating shares among the investors, officials said.
IPO result has already been published on the websites of United Power Generation & Distribution Company, Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE).
Moinuddin Hasan Rashid, Managing Director of United Power Generation & Distribution Company, Md Mustafizur Rahman, company secretary, Moshiur Rahman, CEO of ICB Capital Management and representatives of issue manager, DSE, CSE and Central Depository Bangladesh Ltd (CDBL) were present, among others.
In November last year, the securities regulator - Bangladesh Securities & Exchange Commission (BSEC) had given its consent to United Power Generation & Distribution Company to go public under book building method (BBM).
Under the book building method, the company offloaded 33 million ordinary shares at an offer price of Tk 72, including a premium of Tk 62 for each Tk 10 share.
The company raised a fund worth above Tk 2.37 billion for redemption of its preference shares, repayment of bank loans, and meeting IPO processing expenses.
Successful institutional investors got 40 per cent of the offloaded shares, whereas small investors, mutual funds (MFs), non-resident Bangladeshis (NRBs) and general investors got the remaining 60 per cent shares.
The public subscription of the company was held between January 18 to January 22 for resident Bangladeshi and it was continued till January 31 for non-resident Bangladeshi (NRBs).
The company's IPO subscription is over subscribed by 5.87 times as the company received over Tk 8.37 billion against public issue of over Tk 1.42 billion.
As per the audited financial statement for the year ended on December 31, 2013, the company's earning per share (EPS) and net asset value (NAV) are Tk 5.98 and Tk 23.64 respectively.
LankaBangla Investments is the issue manager and ICB Capital Management is the registrar to the issue.
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