MJL’s IPO Bangladesh’s biggest

Officials said that energy firm MJL Bangladesh Ltd., formerly Mobil Jamuna Lubricants Ltd., will raise 6.09 billion taka (US$86.33 million) through the country’s biggest initial public offering (IPO). The company will set up a liquefied petroleum unit and buy land to set up its own corporate office and a crude oil refinery unit with the proceeds from the IPO. A senior official of the Dhaka Stock Exchange said that MJL Bangladesh has received regulatory approval for its IPO, which would likely be launched in 2011. (November 26, 2010)