HP Chemicals to float Tk 600m IPO

FE Report - October 07'2010 Thursday

BRAC EPL Investments Limited has recently signed an agreement with HP Chemicals Limited for providing Issue Management and Corporate Advisory service for the forthcoming IPO of the Company.

H P. Chemicals Limited is a hydrogen peroxide manufacturing company operating since 2005. The company is planning to raise about Tk 600 million from the local capital market under Fixed Price Method.

Khaled Farazi, Managing Director & CEO of BRAC EPL Investments Limited and Mr. M. Hafizur Rahman, Managing Director of H. P. Chemicals Limited signed the agreement on behalf of their respective companies.

Mr. Saiful Islam, Vice Chairman of BRAC EPL Investments Limited, Mr. Shameem Hussain. Chairman & Mr. Raquibul Kabir, Director & Vice Chairman of H. P. Chemical were present.

Road show for price discovery of Energyprima Limited

Road show for price discovery of Energyprima Limited will be held in Radisson Water Garden Hotel on 19th October 2010. Eligible Institutional Investors[as per Securities & Exchange Commission (Public Issue) Rules 2006] can participate in the road show to discover the indicative price for issuance of 40,000,000 ordinary shares of Energyprima Limited through IPO under book building method.

ICB Capital Management Ltd. is the issue manager of this IPO.

 The details of the road show are as follows:

OFFERING SUMMARY:
Public Offer  : 40,000,000 Ordinary shares
Face Value    : Tk. 10/- each share

DETAIL OF ROAD SHOW:
Venue : Radisson Water Garden Hotel,  Airport road,  Dhaka
Date  : 19th October 2010
Time  : 10:00 A.M. to 12:00 PM

SEC approves new IPO, right shares

The Securities and Exchange Commission has approved one new initial public offering and right shares of two listed companies.

“Mobil Jamuna Bangladesh Limited has got the approval of the commission to float IPO,” SEC executive director Anwarul Kabir Bhuiyan told journalists on Sunday.

MJBL will come to the capital market under the book building method and plans to raise Tk 508 crore.

The company plans to float 40 million shares with a face value of Tk 10.

Indicative price per share is proposed to be Tk 127, which means that the investors will bid for the share and the lowest price among the bidders will be fixed as the IPO price.

MJBL plans to buy land in Gulshan, build new plant and purchase tanker for Liquid Petroleum Gas Manufacture Limited at Khulna with the capital.

According to the financial statement of 2009, against each share with face value of Tk 10, the MJBL has income of Tk 2.45 and asset worth Tk 11.70.

The company has paid-up capital of Tk 140 crore and Prime Finance will work as the issue manager for MJBL.

Market regulator has also okayed issuance of right shares for Exim Bank and Agni Systems Limited.

Shareholders of both the issues will get one right share against two general shares.

For the issue of Exim Bank, there is no premium for the right shares and the face value will be Tk 10.

Agni Systems has decided to take Tk 10 from its share holders as premium and the price of the shares would be Tk 20.

The SEC has decided also to extend time for banks to separate their brokerage houses from their merchant banks until Nov 30.

Earlier, the market regulator asked all the banks to finish the separation by Friday (Oct 1).

Kabir told reporters any bank failing to complete the separation will face ‘serious actions’.

“The SEC will cancel margin loan facility for the clients of those brokerage houses and the merchant banks if the bank fails to finish the separation by that time,” he added.

Source: bdnews24.com