Lub-Ref’s IPO application for raising Tk 150 crore from Tuesday

Senior Reporter: Lub-Ref (Bangladesh) Limited’s initial public offering (IPO) application will start next Tuesday (January 26) and will continue till 5 pm on Tuesday, February 1. The company will raise Tk 150 crore by issuing 4 crore 52 lakh 43 thousand 144 shares in the capital market.

After bidding in book building method, the capital market regulator Bangladesh Securities and Exchange Commission (BSEC) approved the IPO of the company. Subscription days are then set for withdrawal of funds from investors.

It will raise Tk 81 crore 8 lakh 63 thousand 200 by issuing 2 crore 26 lakh 21 thousand 544 shares to the general investors. The price of each share has been set at 26 rupees.

Among the eligible investors in the bidding of the company, 2 crore 26 lakh 21 thousand 544 shares will be issued and 7 crore 92 lakh 17 thousand 600 rupees will be raised. The cut-off price of the company has been fixed at Tk 30 in the auction. From here, the shares will be sold to the general investors in the IPO at a discount of 10 percent, i.e. Tk.

Note that NRB Equity Management is in charge of the issue manager.

Source: Daily StockBangladesh by

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