The general public can apply to buy half of Lub-rref's IPO shares at Tk 27 eachGeneral investors will get the chance to sign up for stock sale ofLub-rref (Bangladesh), which supplies the BNO-brand lubricant, for the next week. The 19-year-old Chattogram-based company is raising Tk 150 crore from the public via the book-building method. The general public can apply to buy the remaining half of the local lubricant company's shares on a 10 per cent discount to the cut-off price, meaning the general investors will get IPO shares at Tk 27 each. Lub-rref, which has more than 85 different product lines of engine oil, generator oil, marine engine oil, automotive gear oil, hydraulic oil, compressor oil, industrial gear oil, machine oil, transformer oil, grease and so on, has performed better vis-à-vis the market leader MJL, which markets the Mobil brand of lubricants in Bangladesh, in recent years. In 2019, Lub-rref reported a profit of Tk 20.8 crore, up from Tk 20.5 crore in the previous year.

Source: Dhaka Tribune January 25, 2021 19:30 UTC