Dhaka, Bangladesh (BBN)-Saif Powertec Limited (SPL) will make trading debut on Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) Monday under ‘N’ category, officials said.
DSE trading code for Saif Powertec is “SAIFPOWER” and DSE company code is 20625.
On the other hand,  CSE scrip Id is 18010 and scrip code is “SAIFPOWER”. A market lot is 200 shares.
Saif Powertec is the fourth listed firm under the ‘Services & Real Estate’ sector in the Dhaka bourse and seventh listed company on the CSE under the ‘Services & Property sector.
Using the fixed price method, Saif Powertec raised a fund worth BDT 360 million from public by floating 12 million ordinary shares at an offer price of BDT 30, including a premium of BDT 20 for each ten taka share.
The public subscription of the company was held on July 6 to July 10 for resident Bangladeshi which was continued till June 19 for non-resident Bangladeshi (NRB).
The company received around BDT 3.51 billion through IPO against public issue of BDT 360 million which is over subscribed by 9.74 times.
The fund raised through the public offering will be used to set up a new project for manufacturing battery and to meet the expenses of IPO process, according to the company’s IPO prospectus.
The company reported consolidated profit after tax BDT 68.22 million and basic EPS was BDT 1.55 in nine months (July 2013 to March 2014) as against BDT 62.33 million and basic EPS of BDT 1.42 for the same period of the previous year.
However, considering Post-IPO, company’s basic EPS would be BDT 1.22 and NAV per share would be BDT 26.75 as on 31 March 2014.
The ICB Capital Management acted as the issue manager of the Saif Powertec’s IPO.
The stock market regulator — Bangladesh Securities and Exchange Commission (BSEC) approved the IPO proposal of Saif Powertec on April 16, this year.
Saif Power Ltd is registered and converted to a private limited company in 2003, previously it was SAIF Powertec Corporation.
The company initiated its business for sales and service of construction, material handling and power generation equipment in Bangladesh through exclusive agreements with the world renowned manufacturers, according to its website.
BBN/BB/ANS-28Sept14-8:00pm (BST)