May 27, 2011 (LBO) - Sri Lanka's Expolanka group said retail investors will be given all the shares they applied for in the company's initial public offering on May 12.
Expolanka Holdings had reserved for retail individual investors 40 percent of the shares in its IPO to raise 2.4 billion rupees by issuing 172 million ordinary voting shares at 14 rupees each.
Company employees were reserved 15 percent of the IPO shares, Unit Trusts investors 10 percent and non-retail investor 35 percent.
The IPO was oversubscribed on the opening day itself and drew 11.5 billion rupees worth of applications mostly using bank guarantees.
The company said in a stock exchange filing Friday that unsubscribed shares from the retail and unit trust categories in the IPO were allocated to employee and non-retail categories,.
It said that in the non-retail category, investors who applied for up to 71,000 shares will be allocated all they asked for.
Those who applied for between 71,100 to 04 million shares will get 71,000 shares plus 16 percent of the balance shares applied for and those who asked for between 4,000,100 to 10,715,000 will get 699,600 shares plus 04 percent of the balance applied for.
Investors in this category who applied for between 10,715,100 to 26,785,000 shares will get 1,100,200 shares plus 3.9 percent of the balance applied for.
Those who applied for more than 26,785,100 shares will get 2,099,300 shares plus 3.3 percent of the balance shares applied for.
Expolanka group employees who applied for up to 71,000 shares will be allotted in full while those who asked for between 71,100 and 295,000 shares will get 71,000 shares plus 66.8 percent of the shares applied for.
Employees who applied for more than 295,000 shares will be given 295,000 shares plus 86.3 percent of the amount applied for.
source - www.lbo.lk
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