People's Leasing IPO gets 10 Foriegn funds

Sri Lanka’s People’s Leasing Company Limited’s IPO has attracted investment from 10 foreign funds, which all has been given 100% shares they have applied for.

This was confirmed to us by one of the joint financial advisors to the People’s Leasing IPO.

In its share allotment, the company has allocated 114,632,300 shares (114.63 Million) to eleven identified investors and among those identified investors comprise the 10 foreign funds.

Apart from those allotments, People’s Leasing has allocated another 217,949,440 shares ( 217.94 Million) to Non-Retail investors.

The Retail Individual investors too have been given 100% of the share amount they have applied for, numbering to 22,333,600 shares (22.33 Million).

The Company employees have got 34,584,700 shares, once again 100% of the shares they have applied for.

People’s Leasing, a subsidiary of People’s Bank raised Rs. 7.02 billion by offering 390 million shares at an issue price of Rs. 18 per share.

This is the second largest IPO ever to be conducted in the Colombo Stock Exchange.

Reporting By: Prasanna C. Rodrigo

Advertisement