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The initial public offering (IPO) lottery of Intraco Refuelling Station will be held on April 17 to allocate 30 million ordinary shares among the successful applicants, officials said.
The lottery programme will be held at 10:30am at the Institution of Engineers, Bangladesh (IEB) in Dhaka.
The IPO result will be published on the websites of Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and the company after the IPO lottery.
Intraco Refuelling Station, which received regulatory approval from the securities regulator on January 16, raised Tk 300 million from the public issuing by 30 million ordinary shares at an issue price of Tk 10 each.
IPO subscription of the company was open to resident and non-resident Bangladeshis during the period of Marc h 18 to March 27.
The company will utilise the IPO fund for LPG bottling and setting up distribution plant along with bearing the IPO expenses.
As per the entity’s consolidated financial statement (including its five subsidiary companies) for the year ended on June 30, 2017, earnings per share and net asset value per share were Tk 1.43 and Tk 13.87 respectively.
The company has 95 per cent shareholding in five subsidiaries.
AFC Capital Limited and Asian Tiger Capital Partners Investment are working as the issue managers of the company’s IPO.
The principal service of the company is selling gas through CNG re-fuelling stations. IRSL is selling Compressed Natural Gas (CNG) from its CNG re-fuelling stations.