The Colombo Stock Exchange yesterday approved in principle to list the debt securities of the UDA, while officials said the issue would open yesterday, the exchange said the prospectus and application forms would be made available to investors shortly.
The debt securities on offer are for one hundred million fully secured redeemable debentures at an issue price of Rs. 100 each. The Treasury is guaranteeing the debentures.
"The date of opening of the subscription list and the date the prospectus and application form would be made available to member firms and trading members would be notified shortly," the Colombo Stock Exchange said in a statement.
An official of Bank of Ceylon, managers to the issue, said applications would be released on Tuesday (14) and that the issue is expected to be oversubscribed, with commitments amounting to more than Rs. 5 billion.
The first public sector debenture issue is expected to free 800 acres of prime property in Colombo by financing low income homes for 65,000 families living in unauthorised constructions. Resettlement is expected to commence within the next two and a half years.
source - www.island.lk
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