The capital markets regulator, BSEC, has given clearance to Energypac Power Generation to raise almost Tk42 crore through IPO (initial public offering).
The regulator in a statement said the company will issue over 1.7 crore ordinary shares worth Tk41.9 crore. The offer value of each share is Tk25, including Tk15 premium.
The proceeds of the issue will be utilised for bank loan payment, investment in inventory of trading business and meeting IPO expenses.
The regulator also approved an open-ended mutual fund titled VIPB Accelerated Unit Fund with an initial size of Tk20 crore. Face value of each unit is Tk10.
For breaching securities rules, it fined NCCB Securities and Financial Services and CVO Petrochemical Refinery.
NCCB was penalised Tk15 lakh as the brokerage firm was not maintaining consolidated customers’ account properly and providing loan to non-marginable securities.
Every director of CVO Petrochemical was fined Tk5 lakh as the company gave 5% dividend to its general shareholders in 2014 from its capital despite making losses.
BSEC has also formed a steering committee, headed by its chairman, to introduce nationwide financial literacy programme in a bid to create awareness among people about the financial market.
According to its five-year audited report, the Energypac’s weighted average earnings per share is Tk2.91 and net asset value Tk31.13 as of June 30, 2015.
