Orion signs issue manager deal

ICB Capital Management Ltd (ICML) agreed to be the issue manager of Orion Group Laboratories, a subsidiary of Orion Group, for issuing an IPO under book-building method. Mohammad Obaidul Karim, managing director of Orion Group Laboratories, and Mohammad Abdur Rauf, chief executive officer of ICML, signed the agreement in Dhaka on Monday.

Orion Group

Orion Group Laboratories has recently signed an issue management agreement with state-owned ICB Capital Management Ltd (ICML) for issuing initial public offering (IPO) through book-building method, said a statement.
ICML will work as an issue manager of Orion Group Laboratories, a subsidiary of Orion Group.
Obaidul Karim, managing director of Orion Laboratories, and Abdur Rauf, chief executive officer of ICML, signed the deal on behalf of their respective organisations on Monday.
Orion Laboratories will collect the money from the general investors to set up a pharmaceutical plant and a power plant.
This new factory will be the biggest in the pharmaceutical industry in Bangladesh in terms of investment, covered area, and the number of varieties of dosage forms to be produced, said the statement.
The 200MW power plant under the
purview of Orion Laboratories will be added to the national grid by March next year, the statement added.
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