The lottery was held under the guidance of the Security and Exchange Commission (SEC) in presence of representatives of DSE, CSE, CDBL, ICB and officials of the company at Bangladesh-China Friendship Conference Centre, says a press release.

The function was attended by around 2000 shareholders. Electrical & Electronics Department of BUET conducted the lottery through a computer generated programme, which ensures random selection.

The lottery for share applications from general public and NRBs were held separately and the result was posted at Bangladesh-China Friendship Conference Centre and the premises of Summit Power Limited for public information.

Earlier, the company received subscription of Tk 201 crore against 282,939 applications from general public and Tk 38 crore against 2,318 applicants from NRBs totaling Tk 239 crore against 20 lakh shares offered in IPO.

Summit Power Limited (SPL), first Bangladeshi independent power producer, went for IPO to raise its capital, which closed on August 31, 2005.

The company offered 20 lakh ordinary shares of Tk 140 each including premium of Tk 40 per share totaling Tk 28 crore. Out of which 18 lakh shares were earmarked for general public and 2 lakh shares for non-resident Bangladeshis (NRBs).