The shares of Free Lanka Capital Holdings Ltd., will debut their trading today on the Colombo Stock Exchange.
Under the security code FLCH-N-0000, 1.36 billion shares of the Company will be listed following the successfull Initial Public Offering (IPO) concluded last month.
In the IPO, Free Lanka Capital Holdings issued a 22% stake amounting to 300 million shares at Rs. 5 each.
The Rs. 1.5 billion IPO drew applications worth Rs. 69 billion with 424 applications via bank guarantee amounting to Rs. 67 billion and 34,421 applications via bank draft and cheques requesting for Rs. 2 billion worth of shares.
In the allotment, retail category applicants (between 10,000 and 20,000 shares) got a minimum of 10,000 shares whilst those in the non retail category got a minimum of 11,000 plus a pro-rata basis.
A diversified company FLCH has interests presently in plantations and hydro power with plans to venture into leisure and real estate developments.
source - www.ft.lk
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