ISLAMABAD, Feb 7: The Privatization Commission will hold roadshows and marketing presentations for the IPO of Kot Addu Power Company shares in a number of cities for the information and benefit of the general public.

According to a handout issued here on Monday, Privatization and Investment Minister Dr Abdul Hafeez Shaikh would open the first roadshow for Kapco in Karachi on Tuesday (Feb 8) at a local hotel.

The public would also be informed of the investment opportunity through print and electronic media campaigns. The offer price has been fixed at Rs30 per share and applications can be submitted for 500 shares only, requiring an investment of Rs15,000 per application.

Up to 176,050,000 (two per cent) shares of Kapco (including green-shoe option) will be offered to the general public, resulting in potential proceeds of up to Rs5.28 billion. Subscription will remain open for four consecutive days - from February 21 to 24, 2005 - during banking hours.

Twenty-five banks - 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, NDLC0IFIC Bank, PICIC Commercial Bank, Prime Commercial Bank, Saudi Pak Commercial Bank, Soneri Bank, Standard Chartered Bank, The Bank of Punjab and United Bank Limited - have been appointed as domestic bankers to the offer.

Six banks in the Middle East have been appointed as overseas bankers to the offer, including Habib Bank Limited, Bahrain; United Bank Limited, Qatar; and United Bank Limited, UAE.

Kapco is a highly profitable company with a good operational record. The Privatization Commission expects a massive record-breaking response to the Kapco IPO. More than 316,000 applicants are expected to benefit from the balloting for Kapco shares.

The listing of Kapco will increase market capitalization significantly and bring a worthwhile addition to the power sector companies listed on stock exchanges. The large quantity of shares offered would also add to the liquid share float in the market. Global Securities Pakistan Limited is lead manager for the transaction.