Hi Tech Lubricants, commonly known as “ZIC” among public, has decided for public listing at Karachi Stock Exchange. The book building and public offer is expected to be held in November and early December 2015.
It is expected that the company will be able to raise almost 1.5 billion rupees through book building and initial public offer for public.
Hi Tech lubricants is involved in import and sale of motor oil. The company plans to invest the raised money in expansion of sales network and increasing the capacity of blending plant at Lahore.
As per company’s website, the following products are being sold by them:
- Diesel Oil
- Gear Oil
- Motorcycle Coolant, Brake Fluid
- Hydraulic Oil
- Industrial Gear Oil
The Karachi Stock Exchange has approved the prospectus of the company and soon the dates for book building method will be announced which will be followed by 25% offer of the shares to the general public.
The company has high growth opportunities and can its current market share of 7% to 10% within a year by utilizing the funds raised through public listing.