Lub-rref IPO bidding started on October 12th. Lub-rref (Bangladesh) Ltd expressed that it will set up a state-of-the-art base oil refinery in Bangladesh to help the country become self-reliant in the development of lubricants. Lub-rref says that it also wants to export after meeting domestic requirements, as global demand is driven by the growth of automotive production. In this article, we will provide information regarding Lub Rref Ltd IPO Reslt.
The bidding – a public necessity under the book-building process – took place between 5:00 p.m. on October 12 and 5:00 p.m. on the Dhaka Stock Exchange on October 15. According to the rules of the book-building process, eligible institutional investors were able to set a reference price for Lub-rref shares and, subsequently, the general public could also apply for the same price at a 10% discount.
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Lub Rref Ltd Prospectus
The prospectus for the Lub-rref LTD IPO result has already been published. If you want to read the prospectus, it can be found in the link shown here. For more information, IPO related news can also be found from that link or from this link shown here. The prospectus contains all the necessary information on the Lub-rref LTD IPO result.
Lub Rref Ltd IPO Subscription Summary
Based on the data from the electronic subscription system (ESS), the majority of bids for the IPO were Tk 55 and Tk 27 respectively. 208 institutional and qualifying investors offered different prices to purchase the stock of the company. A total of 14 bidders offered Tk 55 each and 13 bidders offered Tk 27 each to purchase the shares of the lubricant company. The highest bidding price was Tk 60 and, according to the ESS results. The lowest bidding price was Tk 13.
- IPO subscription open: January 26,2021
- IPO subscription close: February 01, 2021
Lub Rref Ltd IPO Result 2021
The applicants were subjected to a lottery process. The issuer and the issue manager carried out a category-wise lottery with valid applications within 3 working days from the date on which the Commission and the Exchanges were notified. The Lub Rref Ltd IPO result of the lottery was posted on their websites within 6 and on the Commission and Exchange websites within 12 hours of the lottery.
Stock Exchange/Merchant Banker’s Code
About the Lub Rref Ltd
Lub-rref LTD. is a state-of-the-art company committed to importing base oil and lubricating additives in different formulations to meet the needs of the automotive and industrial sectors of Bangladesh. Lub-rref Ltd is an ISO accredited professional organization. They have three and a half decades of experience, knowledge and skills in the field of lubricants and greases.
They are now selling our goods under the ‘BNO’ name. The company currently supplies 60 percent of its customers with recycled lubricants, while the remaining 40 percent is made from imported base oil – the primary raw material for lubricants.
Final Words
We have explained a lot of things about Lub-rref company and its IPO result. Now you should have all the necessary information on the Lub-rref LTD IPO result. For more information, please follow the links given above.