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Tuesday, June 28, 2011

Fresh IPOs add Rs 5.6 b to market in 2011

Ten finance companies already listed and ready for trading:

Ravi LADDUWAHETTY

Buoyed by an environment of sustainable and durable peace and buttressed by a positive investment and growth climate, the six fresh initial public offerings held this year, have already added Rs 5.6 billion to the Colombo Stock Market.

The six IPOs which have added the Rs 5.6 billion to the market were: 26,666,667 shares of Singer Finance Lanka at the rate of Rs 15 which has yielded Rs 400,000,005 on January 17; 200 million shares of Pan Asian Power at the rate of Rs 3 which yielded Rs 600 million on January 7; 19,928,598 shares of HVA Foods at Rs 16 which yielded Rs 318,857,568 on March 29; 15 million shares of Union Bank at the rate of Rs 25 which yielded Rs 375 million; 300 million shares of Free Lanka Capital Holdings at the rate of Rs 5 which yielded Rs 1.5 billion and the 172 million shares of Expo Lanka Holdings Ltd at the rate of Rs 14 which yielded Rs 2,408,000. The total yielded so far by these issues, have aggregated to Rs 5,601,857,573.

Consequent to the Central Bank’s directive for registered finance companies to list on the Stock Exchange by June 30, there have been ten of them which have already been listed and they are ready for trading.

They are: Senkadagala Finance Company Limited which has listed 53,368,000 shares on March 22, Swarnamahal Financial Services Ltd which has listed 25,000,007 shares on May 26, The Multi Finance Company which has listed 17,976,325 shares on May 30, Chilaw Finance which has listed 28,083,948 shares on May 30, Commercial Credit Ltd which has listed 218,074 AMW, 365 on June 1, AMW Capital Leasing Ltd which has listed 20 million shares on June 8, Mercantile Investments Limited which has listed 3,006,000 shares on June 2, Associated Motor Finance Company Ltd which has listed 5,608,355 shares on June 23, Bimputh Lanka Investments Limited which has listed 20,200,002 shares on June 13 and Abans Financial Services which has listed 37 million shares on June 27.

source - www.island.lk