Omera has the latest modern infrastructure facilities for LPG reservation and distribution to users
Omera Petroleum Limited (OPL), the leading operator in the country's LPG sector, plans to go public through book building method to raise Tk238.43 crore for its business expansion.
The company, subsidiary of MJL Bangladesh Limited, will raise capital for the purpose of repaying loans, purchasing an ocean going ship and infrastructure development.
The company will purchase a new modern seaworthy vessel with a capacity of 3,800 MT of LPG, which will be valued at around Tk 186.32 crore. Besides, remaining money raised through the IPO will be used to repay the bank loan.
The road show of Omera Petroleum Limited was held for potential investors at Radisson Blue Water Garden Hotel as part of its plan for the initial public offering (IPO), on Sunday.
Chief Executive officer 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’.
Omera has the latest modern infrastructure facilities for LPG reservation and distribution to users. Omera has 5 tanks with a capacity of 9,050 metric tons of LPG. Besides, it has 3 LPG carrying vessels with a total capacity of 1000 metric tones which is used to transport LPG on inland waterways.
Furthermore, Omera has 32 LPG transport road tankers with a capacity of 17 metric tons each. It has the capacity to bottle up to 60,000 cylinders everyday. Recently, Omera Petroleum has signed with Indian Oil Corporation Limited and started exporting to the northeast of India, especially in the state of Tripura.
Omera Petroleum is a subsidiary of Mobil Jamuna Bangladesh Limited, which owns 62.49% 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 managers for the IPO.
As per market study, Omera Petroleum is enjoying a 20% market share in the industry. Omera established its main LPG terminal in Mongla and three satellite stations in Ghorashal, Mirsarai and Bogura with consolidated capacity of more than 3 lakh metric ton per year.
Meanwhile, Bashundhara is the market leader with a 24% market share. In the year of 1999, Bashundhara LP Gas ltd, started off as the first private LP Gas importing, bottling and marketing company in the country. Jamuna Spacetech Joint Venture Limited (JSJVL) enjoys 17% market share in the countries LPG sector. BM Energy (BD) Limited are enjoying 11% market share.
Representatives of merchant banks and portfolio managers, asset management companies, mutual funds, stock dealers, banks, financial institutes, insurance companies, alternative investment fund managers, and other recognized pension and provident fund and commission approved company managerial authorities also attended the road show.