Business Desk :
Baraka Patenga Power’s bidding to explore the cut-off price of its shares will commence on February 15 which will raise Tk 2.25 billion under the book-building method.
The power generation company’s bidding through electronic subscription system (ESS) of the exchanges will be continued until 5:00pm on February 18 (round the clock).
The valuation report submission period for eligible investor through ESS will start at 10:30am on February 22 and continue till 10:30am on February 24, according to a statement on Wednesday.
Only the eligible investors can participate to explore the cut-off price of the company’s shares under the electronic bidding process.
Each eligible investor who intends to participate in the electronic bidding for the company’s shares shall maintain a minimum investment of Tk5.0 million only for recognised provident funds, approved pension and gratuity funds and other EIs of Tk 10 million at market price in listed securities as on the end of February 7 as per the Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2015.
The minimum bidding value for bidding shall be Tk 5.0 million which is accordance with the BSEC consent letter to Baraka Patenga Power dated January 11, 2021, according to the statement.
The stock market regulator on January 5 allowed Baraka Patenga Power to explore cut-off price of its shares through eligible investors’ bidding-a requirement for going public under the book building method.
As per the regulatory approval, Baraka Patenga to raise Tk 2.25 billion from the capital market for investing in its subsidiaries – Karnaphuli Power and Baraka Shikalbaha Power, partial repay long-term bank loans and expenses of IPO process.
Baraka Patenga Power’s bidding to explore the cut-off price of its shares will commence on February 15 which will raise Tk 2.25 billion under the book-building method.
The power generation company’s bidding through electronic subscription system (ESS) of the exchanges will be continued until 5:00pm on February 18 (round the clock).
The valuation report submission period for eligible investor through ESS will start at 10:30am on February 22 and continue till 10:30am on February 24, according to a statement on Wednesday.
Only the eligible investors can participate to explore the cut-off price of the company’s shares under the electronic bidding process.
Each eligible investor who intends to participate in the electronic bidding for the company’s shares shall maintain a minimum investment of Tk5.0 million only for recognised provident funds, approved pension and gratuity funds and other EIs of Tk 10 million at market price in listed securities as on the end of February 7 as per the Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2015.
The minimum bidding value for bidding shall be Tk 5.0 million which is accordance with the BSEC consent letter to Baraka Patenga Power dated January 11, 2021, according to the statement.
The stock market regulator on January 5 allowed Baraka Patenga Power to explore cut-off price of its shares through eligible investors’ bidding-a requirement for going public under the book building method.
As per the regulatory approval, Baraka Patenga to raise Tk 2.25 billion from the capital market for investing in its subsidiaries – Karnaphuli Power and Baraka Shikalbaha Power, partial repay long-term bank loans and expenses of IPO process.
