Taprobane Holdings Ltd, the managers to Hydro Power Free Lanka’s successful IPO to raise Rs. 350 million which brought in subscriptions amounting to Rs. 19.97 billion, announced the share allotment basis yesterday.
In a filing with the Colombo Stock Exchange it said applicants for 2,000 shares would be allotted 1,000 shares. Applications for 3,000 to 10,000 shares would receive 1,500 shares, 11,000 to 99,000 would receive an allocation of 2,500 shares.
Applications for over 99,000 shares would receive 5,000 shares in addition to 1.326333 percent of the balance shares.
Hydro Power Free Lanka, to be listed on the Main Board of the Colombo Stock Exchange, offered 32 percent of its equity stake to the public. The initial offer of 35,000,000 ordinary shares at the Share Offer price of Rs. 10/- was raised so as to promote future growth in the company and accordingly the Rs. 350 million sum raised through the issue would be invested in the construction of 2 to 4 more mini hydro power plants (MHPs) in Gampola, Kuruwita and Ragala areas in the near future.
source - www.island.lk
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