ISLAMABAD, Feb 21: The Privatization Commission has established a toll free help line No 0800-72150 to provide facilities to the general public for subscription in the initial public offering (IPO) of Kot Addu Power Company shares
commenced from February 21 (Monday).
According to a handout issued here on Monday, the subscription would remain open for four consecutive days till Thursday (Feb 24) during the banking hours. The computerized draw will be held before March 6, and the refunds to the unsuccessful applicants will be completed by March 16. The public will receive Kapco shares in April 2005.
The applicants can also deposit the required amount through the respective branches where they are maintaining their account by cheques or in any of the branch of the bankers to the offer through pay order/bank draft in case not maintaining bank account along with an attested copy of NIC.
The delivery of shares through CDC group accounts will be non-operative after March 31, 2005. Therefore, the applicants are advised to open their own CDC accounts or sub-accounts through brokers.
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 (20pc) shares of Kapco (including a green shoe option) will be offered to the general public, resulting in potential proceeds of up to Rs5.28 billion. Kapco is a profitable company with a good operational record. More than 316,000 applicants are expected to benefit from the balloting.
