Dhaka, Bangladesh (BBN)-Shahjibazar Power Company Ltd (SPCL), which made debut share trading on Tuesday at Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE), could not attract investors much.
The rental power generation company’s share gained only 46 percent and securing second position in turnover with BDT 207.33 million on DSE while it gained 45.2 percent on CSE.
The newcomer’s share price rose as high as BDT 39 and as low as BDT 35 in intra-day trading session and closed at BDT 36.5 from its offer price of BDT 25. Its share closed at BDT 36.1 on CSE.
Using the fixed price method, the company floated 12.68 million ordinary shares at an offer price of BDT 25, including a premium of BDT 15 for each ten share and a raised a fund worth BDT 317 million from public.
Shahjibazar Power produces electricity from natural gas and supplies to Bangladesh Power Development Board.
The company has 86MW power plants and started commercial production in February 2009, according to its IPO prospectus.
It is situated at Fatehpur, Shahjibazar, Hobigonj.
BBN/BB/ANS-15July14-7:30pm (BST)
