The first stage offering of the stocks of Hi-Tech Lubricants Limited (HTLL), through the book-building process is going to be held on Jan 6-7 at Pakistan Stock Exchange. This was stated by Mr. Hassan Tahir (CEO, HTLL) during the pre-book-building road show held for financial institutions, corporate and high net worth individuals (HNWI) in Lahore on 22nd December 2015, at Faletti’s hotel

HTLL is offering 29Million new shares through the IPO-75% or 21.75Mn of which shall be offered through the book-building process and 25% or 7.25Mn shall be offered through the IPO to the general public. The floor price of HTLL’s shares has been set at Rs 37 per share. At this price, the company expects to raise 1.07Bn from the market. The proceeds from the sale of new shares will go towards the expansion of HTLL’s retail network and investment in the company’s 100% subsidiary Hi-Tech Blending (Pvt) Ltd. It may be mentioned that the Company has already invested Rs 1.7Bn on the blending plant, and another Rs 200Mn shall be spent to introduce Jerry Can and Drum manufacturing and filling lines. The debt to equity ratio on the blending plant is 38:62. The company plans to open 37 grand outlets in 11 major cities of Pakistan during 2015-16 through the sale proceeds to its new shares.