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Monday, July 11, 2011

Softlogic shares debut on CSE tomorrow

Softlogic Holdings Ltd., will be the latest diversified blue chip to be listed from tomorrow as its shares go on the Diri Savi Board of the CSE.

Classified under Diversified Holdings Sector with an assigned security code of SHL-N-000, 779 million shares of Softlogic Holdings will be listed on the Diri Savi Board.

Via its IPO of Softlogic made available 139 million shares at Rs. 29 each raising Rs. 4 billion to retire debt as well as fund some of its expansion and diversification of business. The IPO was oversubscribed by over 4 times.

Since its launch in 1991, the group has largely progressed — expanding into a number of sectors including ICT, Retail, Healthcare, Leisure, Automobile and Financial Services Sectors as well. Group turnover is estimated to have doubled to Rs. 10 billion in FY2011 from Rs 4.8 billion in the previous year and profit improving from Rs. 155 million to Rs. 900 million (forecast).

source - www.ft.lk