The BSEC approved the bidding of United Power Generation and Distribution Company for 3.30 crore shares to fix the issue price under the book-building method. The indicative share price of United Power Generation was approved at Tk 60 per share, including Tk 50 premium, by 28 eligible institutional investors. After the bidding, the issue price will be fixed and the commission will approve the IPO prospectus, said a BSEC press release issued on the day. According to the 31 December 2012 financial statement of the United Power, the earning per shares is Tk 10.21 and the company will repay its long-term debt and arrange current capital from the IPO proceeds. LankaBangla Investments Limited is the Issue Manager of this issue.
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