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    Expolanka IPO


    Posts : 97
    Join date : 2011-02-24

    Expolanka IPO  Empty Expolanka IPO

    Post by Nirmal Wed Apr 13, 2011 10:05 am

    Sri Lanka's stock exchange has approved an initial public offering by Expolanka Holdings to raise 2.4 billion rupees by issuing 172 million ordinary voting shares at 14 rupees each.

    The Colombo Stock Exchange said in a statement the Expolanka shares will be listed on the bourse's main board.

    The IPO opens May 12 with the prospectus being available on April 25.

    The company has said it plans a sell-down of a 25 percent stake including a recent private placement to raise funds for expansion and repay debt.

    The company announced after its recent private placement that three independent directors had been appointed to its board.


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