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The Road shows for the Initial Public Offering (IPO) of Kot Adu Power
Company (KAPCO) shares will be held at Peshawar on Wednesday (Feb-16 at Pearl
Continental at 3.30 p.m.) while similar shows will be organized at Sukkur
(Feb-17 at Inter Park Inn at 3 p.m.) and Quetta (Feb-17 at Hotel Serena 4
p.m.) respectively. The Privatisation Commission is holding road shows and
marketing presentations in a number of 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. Earlier, PC has
successfully conducted road shows at Karachi, Lahore and Multan.
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 including 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.