Mackwoods Energy to be listed on CSE Main Board

Mackwoods Energy Ltd (MEL), a member of the Mackwoods Group, received approval to list on the Main Board for their Initial Public Offer (IPO) with an offer for subscription of 25 million ordinary shares at Rs.14 each.

The official opening of the IPO is scheduled for 22nd March and the prospectus would be delivered to Member Firms/Trading Members of the CSE on 8th March 2012. Financial Advisor and Managers to the issue is the NDB Investment Bank Ltd, and Registrars to the issue is SSP Corporate Services (Pvt) Ltd.

Mackwoods Group, having commenced its operations in the energy solutions business in 1996, and catering to the demands of a variety of sectors of the economy, thereafter, in 2008, brought its activities under a common identity through MEL, which previously functioned as Mackwoods Engineering (Pvt) Limited.

This was aimed at harnessing, at an optimum level, the growing opportunities in the area of power and energy, and for greater specialisation in the sector.

The advent of peace in 2009 accompanied by the strong growth in the economy and the emerging potential presented by the far reaching national infrastructure development programme, particularly in the North and East regions of the country, led to MEL repositioning itself as a total energy solutions provider of an extensive array of products and services including the development of hydropower and renewable energy projects, to enable the Company to be a significant player in the sector, leading to focused growth and expansion of the business.