Islam Oxygen Limited has started its journey for Initial Public Offering (IPO) under book building method as per Bangladesh Public Issue Rules-2015.
Company started the journey with a road show in the Grand Ballroom of Radisson Blu Water Garden Hotel in the capital on Monday, October 25, 2021. Managing Director of Islam Oxygen Limited, Nurul Islam was present. Chairman of the company Shahidul Islam, Director, Md. Azharul Islam, Chief Operating Officer, Badr Uddin Al-Hossain, Company Secretary, Md. Akhtaruzzaman, Independent directors of the company and other officials were participated in the ceremony, a press release said.
The representatives of Bangladesh Securities and Exchange Commission, Dhaka Stock Exchange and Chittagong Stock Exchange, Representative of Janata Capital and Invest Ltd., Sonali Investment Ltd., ICB Capital Management Ltd. and Rupali Investment Ltd., physicians of different hospitals, representatives of various bank insurance and financial institutions, along with merchant banks and brokerage houses and shareholders of the company, officers and employees of the company were also present on the occasion.
In order to gain market share and turn it into a reputed oxygen company in Bangladesh, Islam Oxygen Limited is participating in an IPO for taka 93 crore subjects to BSEC approval through book building method. After spending on the IPO, the company will spend the rest of the money on setting up a new factory building, plants and machineries.
Managing Director of Islam Oxygen Limited Nurul Islam said, “In the financial year 2020-2021, we have been able to increase our production capacity to 25 million cubic meters per year.” With the money raised from the market through IPO, we will set up a liquid gas plant and a new factory building. If the plant set up, we hope to be able to meet the country’s demand for oxygen and other gases to a large extent. With the setting up of this plant, our current production capacity will be increased from 25 million cubic meters to about 45 million cubic meters. This will make Bangladesh a self-sufficient gas rich country by reducing the foreign dependence on the country’s gas industry.
According to the projected financial statement, in 2025, our project revenue will be Tk 270.27 crore and we hope that, production capacity will increase to 4.87 crore pieces per year. We will be able to meet the market demand of Bangladesh and then export to other countries. “Now it is the best time to invest in Islam Oxygen Limited and we believe that, we will be able to give our shareholders the right returns and start our next milestone in the capital market,”
