IPO subscription of Intraco Refueling from Mar 18

The initial public offering (IPO) subscription of Intraco Refueling Station will begin on March 18 which will raise Tk 300 million from the public under the fixed price method.

Meanwhile, the sales of the units of IDLC Growth Fund, an open-end mutual fund, starts today (Tuesday) and will be continued for next 45 working days.

The IPO subscription of eligible investors through electronic subscription system under fixed price method of the Intraco Refueling Station will be opened till March 27 for resident and non-resident Bangladeshis.

The securities regulator - Bangladesh Securities & Exchange Commission (BSEC) approved the IPO proposal of the company on January 16 to raise a capital worth Tk 300 million under fixed price method.

As per the BSEC approval, the company will float 30 million ordinary shares of Tk 10 each for raising the said amount.

A market lot is 500 shares and an investor needs Tk 5,000 to apply for per lot of the company's IPO shares.

The required amount (per lot) of foreign currency for NRBs and foreign applicants for IPO of the company are US$ 60.46 or GBP 43.22 or EUR 48.99, according to Dhaka Stock Exchange (DSE).

The company will utilise the IPO fund for LPG bottling and setting up distribution plant along with bearing the IPO expenses.

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