Baraka Patenga shares will allotte on Monday

Sunbd Desk || Published: 2021-07-03 12:26:49 || Updated: 2021-07-03 12:26:49

Shares of Baraka Patenga Power, which has just completed its initial public offering (IPO) application, will be allotted next Monday. On that day, shares will be allotted at Nikunj, the head office of the Dhaka Stock Exchange, the country’s main capital market. This information has been known from the company sources.

It is learned that earlier, the bidding (auction) was held from February 22 to February 25 to determine the cut-off price of the company. The cut-off price of the company was set at Tk 32 in the bidding. Later, the BSEC approved the withdrawal of money from the general investors at a discount of 10 percent. On January 5, the 755th meeting of the Bangladesh Securities and Exchange Commission (BSEC), the regulator of the capital market, approved the bidding of the company.

Ordinary investors apply for Tk 29. Baraka Patenga Power’s initial public offering (IPO) application was accepted from Sunday, June 13 to June 17.

Baraka Patenga will raise Tk 225 crore from the capital market through an initial public offering (IPO) in the power book building method. Which will be used to invest in its subsidiaries Karnafuli Power and Baraka Shikalbaha Power, partial long-term debt repayment and IPO costs.

Sunbd/NJ

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