Home »Fuel and Energy » Pakistan » Lalpir Power listed on KSE
Lalpir Power Limited (LPL) became 11th Independent Power Producer (IPP) which was listed at Karachi Stock Exchange (KSE) here on Tuesday. The listing ceremony was held at KSE's trading hall. The ceremony began with the ringing of Gong with formally commencing trading and listing of Lalpir Power Limited. Officials of KSE and from Lalpir Power Limited (Nishat Group) were present on the occasion.

The company had intended to offer 75 percent shares of total offer (28.49 million shares) in book-building at floor price of Rs 15, while remaining 25 percent (9.49 million shares) were offered to the general public at or below the strike price determined through book-building. Green shoe option of 5 percent of total paid up capital or 18.99 million shares was also offered to the general public in the case of over subscription.

Talking to media, Khalid Qadeer, Group Director (Nishat Group) said that Lalpir Power Limited has capacity of 372MW power generation from which 350MW has been given to Wapda adding that Lalpir would be converted on coal very soon as it is generating power on furnace oil currently.

He said that rotor of power house would be replaced in 2014, generation capacity would be increased by two percent. LPL operated at an average load factor of 53 percent in the last 3 years at thermal efficiency of 37.2 percent. In 2012, LPC dispatched 1,686Gwh of electricity to the national grid at a plant load factor of 55 percent and churned a profit of Rs 1,446 million (EPS Rs 3.81). LPL formerly known as AES Lalpir (Pvt) Ltd is based on 1994 power policy. The company started its commercial operations at the end of 1997 with 30 years of useful life.

Copyright Business Recorder, 2013

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