The basis of allotment of Free Lanka Capital Holdings was announced yesterday. Retail investors who applied for upto 10,000 shares will obtain the entire amount which they applied according to the new rules set by the Securities and Exchange Commission (SEC).
According to the share allotment statement in the retail category, those who have applied for between 10,001 - 17,001 shares will get 10,700 shares while the investors that have applied for between 17,001 t- 20,000 will get 11,000 shares.
Those who applied for over 200 million shares will be allotted a minimum of 11,000 shares plus 0.94 percent on the balance number of shares and another 19,950 shares, the statement said.
Under the SEC new rules a minimum of 40 percent of the offered shares in a public offer has to be made available for allotment to retail individual investors.
A retail individual investor shall be defined as an individual investor who applies for up to a maximum of 3,000 shares or for a value not more than Rs 100,000 whichever is higher.
source - www.dailynews.lk
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