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Dr. Abdul Hafeez Shaikh, Federal Minister for Privatisation & Investment
will chair the SECOND Road show for the Initial Public Offering (IPO) of Kot
Adu Power Company (KAPCO) shares at Lahore on February 9, 2005 (Wednesday) at
Avari Hotel at 4.30. p.m.
The first road show was opened at Karachi, which received enthusiastic
response from the general public and the investors. Privatisation Commission
is holding road shows and marketing presentations in a number of cities such
as Quetta, Peshawar, Multan, Hyderabad and other cities with the assistance of
the respective Chambers of Commerce & Industries of these cities for the
information and benefit of the general public. The public would also be
informed of the investment opportunity through the press and electronic media
campaigns.
The offer price per share has been fixed at Rs.30/- per share and applications
can be submitted for 500 shares only, requiring an investment of Rs.15,000/-
per application. Upto 176,050,000 (20%) shares of KAPCO (including green-shoe
option) will be offered to the general public resulting in potential proceeds
of up to Rs.5.28 billion. Subscription will remain open for four consecutive
days i.e. from Monday, February 21, 2005 to Thursday, February 24, 2005 during
banking hours.
A total of 25 banks namely, ABN-AMRO Bank, Allied Bank of Pakistan, Askari
Commercial Bank, Bank Alfalah, Bank AL Habib, Bolan Bank, Faysal Bank, First
Dawood Investment Bank, First Women Bank, Habib Bank A.G. Zurich, Habib Bank,
Jahangir Siddiqui Investment Bank, KASB Bank, Meezan Bank Limited,
Metropolitan Bank, Muslim Commercial Bank, National Bank of Pakistan,
NDLC-IFIC Bank, PICIC Commercial Bank, Prime Commercial Bank, Saudi Pak
Commercial Bank, Soneri Bank, Standard Chartered Bank, The Bank of Punjab,
United Bank Limited have been appointed as domestic bankers to the offer in
order to facilitate the general public. Six Banks in the Middle East have been
appointed as Overseas Bankers to the Offer and include Habib Bank Limited,
Bahrain, Habib Bank Limited, Oman, Habib Bank Limited, UAE, United Bank
Limited, Bahrain, United Bank Limited, Qatar and United Bank Limited, UAE.
This is in line with the government's policy of transferring the benefits of
privatisation to the common man under the slogan, 'Privatisation for the
People'.
KAPCO is a highly profitable company with a good operational record. If the
ever increasing response to the recent IPOs by the Privatisation Commission is
any indication, then a massive record breaking response to the KAPCO IPO may
be expected. More than 316,000 applicants are expected to benefit from
balloting for KAPCO shares.
The listing of KAPCO would increase market capitalization significantly and
would bring a worthwhile addition, rather a leader, to the power sector
companies listed on the stock exchanges. The large quantity of shares offered
would also add to the liquid share float in the market. Global Securities
Pakistan Limited are the Lead Managers for the transaction.