Lub-rref’s share bidding begins Monday

The bidding for the shares of Lub-rref (Bangladesh) Ltd will start at 5pm on Monday, through the book-building method.

The bidding process will continue till 5pm Thursday, said sources from the Dhaka Stock Exchange (DSE).

On August 20, the bidding for the shares of Lub-rref was approved by the regulatory body Bangladesh Securities and Exchange Commission (BSEC).

It is learned that Lub-rref will raise 150 crore taka from the stock market through an initial public offering (IPO) in book building method, which will be used for business expansion, bank loan repayment and IPO expenses.

The company's earnings per share (EPS) for the year ended June 30, 2019, was 2.08 taka. On June 30, 2019, the company's net asset value per share (including revaluation reserves) was 31.93 taka and net asset value per share (excluding revaluation reserves) was 25.96 taka.

According to five financial statements, the company’s net profit after tax has been weighted at an average rate of 2.23 taka per share. NRB Equity Management Ltd is acting as the company’s issue manager to facilitate the IPO process.

Lub-rref (Bangladesh) Ltd is a local producer of lube oil whose products are branded as BNO Lubricants.

sr/sik