Shahjibazar power company ltd IPO has approved. Shahjibazar Power Company Ltd initial public offering (IPO) approved by Bangladesh Securities and Exchange Commission on Wednesday. Shahjibazar power company ltd IPO has permitted with an offer price of Tk 25 each share including a premium Tk 15.
Shahjibazar Power Company Ltd IPO
The BSEC chairman M Khairul Hossain had taken the decision at a regular commission meeting presided over by. A BSEC news release said Shahjibazar Power would be issuing 1.26 crore shares to raise Tk 31.70 crore to repay its bank loans. Shahjibazar Power Co plans to raise Tk 31.7 crore during an initial public offer (IPO) to pay bank loans.
Shahjibazar Power will be the 16th company in the fuel and power sector after listing in the stock market. According to the company’s audited financial statement of 31th March 2013, the earnings per share = Tk 2.58, the net asset value = Tk 24.58 and the offer price = Tk 25. (Including face value Tk 10). Market lot = 200 units and Single lot price = Tk. 5000.00
Bangladesh Securities and Exchange Commission gave the green light to the rental power generation company to increase the fund during 1.26 crore ordinary shares of Tk 10 each at an offer price of Tk 25.
The stock market regulator gave permission to Brac Bank to raise Tk 443.30 crore by issuing 22.16 crore rights shares at an offer price of Tk 20, including Tk 10 per year too. The listed bank will offer one rights share for existing two shares and will use the proceeds to strengthen its capital structure in line with the central bank’s requirements.
A right issue is an issue of additional shares by a listed company to raise capital from existing shareholders at a particular price within a specified time. A rights issue is in distinction to an initial public offering, where shares are obtained to the general public through a stock exchange. The BSEC fined Reliance Brokerage Services, a dealer Tk 10 lakhs for providing share credit by violating the securities rules.
Shahjibazar Power IPO Subscriptions
Subscription open : 06 April 2014
Subscription close : 10 April 2014
Subscription close for NRB : 06 April 2014 to 19 April 2014
Shahjibazar Power Company Ltd IPO Subscriptions detail will be published very soon. The regulator also approved a proposal of size and name change of a mutual fund that managed by ICB Asset Management Company. The changing name of the fund will be ICB AMCL First Agrani Bank Mutual Fund, instead of the earlier First Agrani Bank Mutual Fund, and the fund will grow to Tk 200 crore from Tk 100 crore.
The CDBL database will be upgraded for BSEC directed investors to update their beneficiary owners’ accounts this month that is essential due to modified IPO rules. All IPO result information and result will be published this website. So, visit the website for knowing more.