For instance, Energypac’s sales almost tripled in 2018 due to the start of LPG business in 2017, said recent research by Brac-EPL. The rest of the IPO proceeds would be used for loan repayment and footing IPO expenses. No wonder then it would use 33 per cent of the IPO proceeds to clear its bank loans. The remaining 20,146,800 shares have opened to the IPO participants, including general investors and non-resident Bangladeshis, at a 10 per cent discount on the cut-off price, meaning the general investors will get the IPO shares at Tk 31 each. LankaBangla Investments is acting as the issue manager of Energypac’s IPO.

Source: Dhaka Tribune December 12, 2020 18:44 UTC