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Fri, Nov 22, 2019 12:09 AM
Mon, Oct 21, 2019 3:03

Road Show of omera ltd held in Radisson

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A road show of Omera Petroleum Limited was held for potential investors at Radisson Blue Water Garden Hotel on Sunday evening, as part of its plan for the initial public offering (IPO).

A road show of Omera Petroleum Limited was held for potential investors at Radisson Blue Water Garden Hotel on Sunday evening, as part of its plan for the initial public offering (IPO).

Omera Petroleum Limited, a concern of Mobil Jamuna Bangladesh Limited, plans to go public by using the book building method to raise Tk 238.43 crore for its business expansion. The company to purchase a new modern seaworthy vessel with a capacity of 1.5 MT of LPG, which will be valued at around Tk 186.32 crore. Besides, 1.5 crore of the money raised through the IPO will be used to repay the bank loan.

Chief Executive officer (CEO) of Omera Petroleum Shamsul Haque Ahmed said on the occasion, ‘Considering the growing demand of LP gas in the country, Omera Petroleum started its journey into the LPG sector by establishing complete European technology and machinery. Omera imports LPG gas and bottles it into five different cylinders for domestic and commercial use. Omera also sells LPG in bulk for use in the industry’.

He also informed that, Recently, Omera Petroleum has been signed with Indian Oil Corporation Limited and started exporting to the northeast of India, especially in the state of Tripura.

Omera Petroleum Limited is a subsidiary of Mobil Jamuna Bangladesh Limited, which owns 62.49 percent shares of the company. Other notable shareholders are BB Energy Asia Pte Ltd, Singapore and the Netherlands based financial firm FMO.’

On the occasion company officials said, Current paid-up capital of Omera Petroleum is Tk 2,219,833,330. Total net asset value per share of the company is Tk 19.71 per share. Its earnings-per share was Tk 2.93 during FY2018-19.

Omera Petroleum Limited Directors Azam J Chowdhury, Tanjil Chowdhury, Raed Abul Nasr Bassatne, Bahaeddine Mohamed Aboul Nasr Bassatne, Richard Verbove, CFO Akter Hossain Sannamat, Company secretory Mohammad Assadujjaman were also present at the programme.

LankaBangla Investment Limited and Union investment limited are working as the issue manager for the IPO.