FloWater, FloSolar Solutions sign MTB Capital as a corporate advisor and issue manager
MTB Capital Ltd, a leading merchant bank in Bangladesh, has signed a memorandum of understanding (MoU) with FloWater Solutions Ltd, and FloSolar Solutions Ltd to work as their corporate advisor and issue manager.
CEO of MTB Capital Khairul Bashar Abu Taher Mohammed, and Founder and Managing Director of FloWater and FloSolar Solutions Mustafa A K Khan signed the MoU recently on behalf of their respective organisations.
As the corporate advisor, MTB Capital will help grow the businesses of the two green companies over the next five years and after a certain stage, it will also work as the issue manager to bring the companies to the bourses, according to a statement by the merchant bank.
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FloWater Solutions is a leading water and wastewater engineering solution provider in Bangladesh.
Starting its operations on 1 June 2017, the company completed more than 150 projects and has 35 active projects now.
It is actively working to achieve sustainable development goals (SDGs) for clean water and sanitation through safe water access for communities and industrial customers through water treatment plants (WTP), saline groundwater management in partnership with Friendship NGO to run 6 WTPs in Satkhira and Khulna, groundwater contamination in partnership with Max TapWater to set up 19 piped water grids scaling up to 70 in rural Bangladesh, industrial wastewater management through its sewage and effluent treatment plant solutions.
FloSolar Solution is working on industrial rooftop solar solutions for a variety of industries with rooftop space.
Founded in 2019, FloSolar is developing renewable energy projects. It also has expertise in working with a variety of global partners, including international engineering, procurement & construction (EPC) companies, and financial partners.
According to MTB Capital officials, FloWater is likely to apply for an initial public offering (IPO) to get listed in the main trading board and FloSolar may apply for getting listed in the SME board of the bourses.
