Ashuganj Power Station to enter stock market

Govt plans to raise Tk 1,000 crore from the capital market

The government is all set to introduce Ashuganj Power Station Company Limited (APSCL), the largest state owned power machinery, into the stock market.
With an initial aim to raise Tk 1,000 crore from the capital market, the company will be listed into the stock exchanges very soon, sources with power division said.
Several high level meetings have already been held on this and Investment Corporation of Bangladesh (ICB) which has been asked by the power division to prepare an assessment report on APSCL’s capital market potential has already submitted their draft assessment report, said the power division sources.
APSCL is the largest state owned power producing company. The company is being governed by Power Development Board (PDB) under the Ministry of Power, Energy and Mineral Resources. APSCL was registered under Company Act 1994 in June 28, 2000. This company now supplies 16 per cent of the total electricity produced in the country.
It has the capacity to produce 1127 megawatt of electricity through its nine units and it is producing around 982 megawatts. APSCL has earned
profit worth Tk 152.17 crore during last fiscal year.
Talking with The Independent about APSCL’s potential entry into the capital market, Dr Ahmed Kaikaus, additional secretary of the power division said that the government has already increased the power generation capacity by borrowing loans from aid agencies, banks and financial institutions.
“We would require a lot more fund to update our transmission and distribution system in line with our generation capacity. APSCL is a large company and if companies like APSCL enter into the stock exchange, we will be able to gain the confidence of the investors,” he said.
He said that besides, per capita income here has increased. So, people would be needing safe and secured investment opportunity and public enterprises like APSCL could be one of their best option.
The Dhaka Electric Supply Company (DESCO) has already offloaded 25 per cent share in the stock market while another 10 per cent is in the pipeline. The Power Grid Company of Bangladesh (PGCB) has already offloaded 23.75 per cent share in the market.
State-run oil companies like Padma, Meghna, Jamuna and Titas Gas have already been listed on the stock exchanges to mobilise funds for financing their own projects.

 

Ashuganj Power Station to enter stock market

Govt plans to raise Tk 1,000 crore from the capital market

The government is all set to introduce Ashuganj Power Station Company Limited (APSCL), the largest state owned power machinery, into the stock market. With an initial aim to raise Tk 1,000 crore from the capital market, the company will be listed into the stock exchanges very soon, sources with power division said. Several high level meetings have already been held on this and Investment Corporation of Bangladesh (ICB) which has been asked by the power division to prepare an assessment report on APSCLs capital market potential has already submitted their draft assessment report, said the power division sources. APSCL is the largest state owned power producing company. The company is being governed by Power Development Board (PDB) under the Ministry of Power, Energy and Mineral Resources. APSCL was registered under Company Act 1994 in June 28, 2000. This company now supplies 16 per cent of the total electricity produced in the country. It has the capacity to produce 1127 megawatt of electricity through its nine units and it is producing around 982 megawatts. APSCL has earned profit worth Tk 152.17 crore during last fiscal year. Talking with The Independent about APSCLs potential entry into the capital market, Dr Ahmed Kaikaus, additional secretary of the power division said that the government has already increased the power generation capacity by borrowing loans from aid agencies, banks and financial institutions. We would require a lot more fund to update our transmission and distribution system in line with our generation capacity. APSCL is a large company and if companies like APSCL enter into the stock exchange, we will be able to gain the confidence of the investors, he said. He said that besides, per capita income here has increased. So, people would be needing safe and secured investment opportunity and public enterprises like APSCL could be one of their best option. The Dhaka Electric Supply Company (DESCO) has already offloaded 25 per cent share in the stock market while another 10 per cent is in the pipeline. The Power Grid Company of Bangladesh (PGCB) has already offloaded 23.75 per cent share in the market. State-run oil companies like Padma, Meghna, Jamuna and Titas Gas have already been listed on the stock exchanges to mobilise funds for financing their own projects.