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Date:Monday, July 25, 2016Time:08:13:25
Traded On: Nov 30

IPO hope of CHCL Extended for Undue Period
29, Jun 2009

Initial Public Offering of Chilime Hydropower Company has again postponed with out mentioning any due date of hearing. Today, Supreme Court ordered the stay order for the IPO of the company. Previously, the IPO of the company was withheld one day before the issue date (15-June-2009) after the general people from the affected areas of Chilime Hydropower Company had filed case against the company, indicating the company did not allot them shares equals to 8 percent as per the earlier agreement. The next hearing was scheduled to 2066 Ashad 10 (24-June-2009) but again, the court posted the hearing for 29 June, 2009 ordering the representatives of Prime Minister Office and Water Resource ministry to attend in the next hearing. Today also it fails to provide clean cheat to the IPO of the company.

Chilime which was established with the national investment and capital (no international funds) has total capacity of producing 20MW electricity. The market price of company is around Rs 1110 at present.
Jamb News Service

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