Omera Petroleum to hold IPO road show today

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FE Report | Published: October 19, 2019 21:54:36

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Omera Petroleum Limited (OPL), country's largest LPG operator will hold its IPO (initial public offering) road show today (Sunday) as part of the process of going public under the book building method.
The road show will be held at the Radisson Blu Dhaka Water Garden in the capital Dhaka.
The company will raise capital from the stock market for partial repayment of loans, purchasing an ocean going ship and infrastructure development.
The eligible investors including merchant banks, asset management companies, stock broker and dealers, among others, are expected to attend the company's IPO road show.
At the road show, the company will make presentation on its financials, future plans and the objective of raising capital through public offering.
Earlier, Asked, Azam J. Chowdhury, the chairman of OPL, told the FE that they would require huge investments for LPG purposes in the coming days.
"On completion of deep sea port, the LPG needs to be transported from the deep sea port to different terminals and huge investments are required here," Mr. Chowdhury said.
He said the country's largest LPG operator OPL would purchase a ship at a cost of around $21 million.
According to the company officials, the OPL will require a capital worth around $29 million for infrastructure development and purchasing a ship.
The OPL is also a subsidiary of MJL Bangladesh with a combined capacity of 100,000 MT per year.
In partnership with European energy giant BB Energy, the company has installed state-of-the-art LPG import and storage terminal with capacity of 3600 MT at Mongla, Bagerhat, according to the company's website.
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