IPO Would Boost Bangladeshi Blender BY K. VENKATESHWAR RAO
Lub-rref (Bangladesh) Ltd., the largest lubricating oil blending plant in Bangladesh, is
poised for expansion and growth with the proceeds of its upcoming initial
public offering. The company has not disclosed the amount it plans to raise.
Lub-rref Founder and CEO Mohammad Yusuf said the IPO is likely to open within the next three months.
Photo
courtesy of Lub-rref (Bangladesh) Ltd.
Lub-rref (Bangladesh) Ltd., the
largest lubricating oil blending plant in Bangladesh, is poised for expansion
and growth with the proceeds of its upcoming initial public offering.
Lub-rref would use the IPO proceeds for expansion of existing
capacity and partial payment of old bank debts, Yusuf said. He added that the
IPO would position the company as Bangladesh’s “premier” lube blender.
Additional capacity would include transformer oil manufacturing,
viscosity improver solubilizing and production of hydraulic, turbine and engine
oils. An accredited laboratory is also planned.
Yusuf claimed Lub-rref was the first Bangladeshi organization to
produce and export lubricating grease, the first to produce lithium based
grease and the first to set up a lubricant recycling plant in Bangladesh.
For more: IPO Would Boost Bangladeshi Blender
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