Wednesday, October 5, 2011

CSE approves PLC’s Rs. 7bn IPO

The Colombo Stock Exchange (CSE) yesterday approved in principle People’s Leasing Company’s (PLC) Rs. 7 billion initial public offering (IPO).

The offer is for 390 million ordinary voting shares at Rs. 18 each and the subscription list will open on November 3.

NDB Investment Bank Ltd and Capital Alliance Holdings Ltd are jointly managing the offer.

As reported last week, the IPO funds will be used to finance expansion and broad base the company’s capital structure. The listing also satisfies a regulatory requirement for all licensed finance companies to be listed on the CSE.

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