Lub-rref’s IPO proposal gets BSEC nod

Lub-rref (Bangladesh) Ltd has received a green signal from Bangladesh Securities Exchange Commission (BSEC) regarding its initial public offering (IPO) proposal. 

At a meeting on Wednesday, the securities regulator approved the proposal of publishing prospectus of Lub-reff (Bangladesh), allowing the company to issue above 4.52 billion shares through the IPO.

The company has recently completed the bidding required to fix the indicative price as part of the process of going public under the book building method.

Eligible investors will get shares at their respective prices offered at the bidding.

The securities regulator, during the meeting, took another decision of seeking explanations from the eligible investors who offered prices above Tk50 for each of Lub-reff’s shares at the bidding.

Those investors will have to explain whether they participated at the bidding in line with the securities rules or not.