Hi-Tech Lubricants Limited declares interim dividend
Lahore, February 23, 2016 (PPI-OT): Hi-Tech Lubricants, the company behind the famous motor oil brand, ZIC, has declared an interim cash dividend Rs. 1.30/- per share ahead of its formal listing at Pakistan Stock Exchange. The Company released its six monthly audited financial statements ending Dec 31, 2015 here today. In a notice sent to Pakistan Stock Exchange, the company declared its sales to reach at Rs 3.4bn up from Rs 2.3bn during the corresponding period ending Dec 31, 2014. The company’s top line showed an impressive growth of 48% over the corresponding period under review. The company’s basic and diluted earnings per share clocked at Rs. 3.36/- per share.
High Tech-Lubricants has just completed both phases of its Initial Public Offering, and its share is expected to formally start trading on PSX Board from 1st week of March 2016. The company’s management is expected to join the PSX Board/officials for the inauguration of the share trading of its shares. With this listing, the company shall become the first ever company to be listed after the formation of PSX, besides also being the first company from the machine lubricants segment of the oil and gas marketing group to be listed on the domestic stock exchange.
It may be mentioned that Hi-Tech Lubricants enjoys 13.6% market share in passenger car motor oil segment and an overall 5.5% share of the total machine lubricant market in Pakistan. HTLL’s solid market positioning and a widespread distribution network of 150+ distributors across Pakistan. Hi-Tech’s product portfolio, under the brand name of “ZIC”, includes a wide range of specialty lubricants in automotive, industrial and marine segments, which are imported from SK Lubricants Ltd., South Korea, ensuring highest quality and maximum protection against engine and machine wear. Arif Habib Limited is the Lead Manager, Arranger and the Book Runner for both the IPO portions of the public offering of HTLL’s shares.
For more information, contact:
Barkat Ali Anjum
Deputy Manager-Media and Public Relations Department
Lahore Stock Exchange-Financial Services Limited
(Formerly Lahore Stock Exchange Limited)
Lahore Stock Exchange Building,
19, Khayaban-e-Aiwan-e-Iqbal, P. O. Box: 1315,
Lahore – 54000, Pakistan