ASPH rights trading ends today

Monday, 17 August 2020 00:00 - - {{hitsCtrl.values.hits}}

Industrial Asphalts (Ceylon) PLC’s rights shares will conclude today, with today being the last day on which the rights will trade at the Colombo Stock Exchange.

Industrial Asphalts (Ceylon) PLC (IAC), a company listed on the Colombo Stock Exchange under the stock code ASPH.N, is going through a capital raising exercise with the announcement of the rights issue.

The company is the pioneer in the bitumen business in Sri Lanka established in 1964 by a group of dynamic industry experts who set out to provide innovative solutions for the road construction industry, the company also embarked on introducing highly successful bituminous products for the paints and coatings industry.

IAC is the proud owner of some of the most iconic brands including NOLEAK and Britex. These brands popularity and brand strength can be measured by the fact that it has achieved a status of generic reference to the functionality of the brands denote.

The company foresees rapid investment in infrastructure on the back of the Government’s development initiatives. Infrastructure sector in general and roads sector in specific will be experiencing significantly higher growth rates in during the years 2021 to 2025.

The extensive development of the roads is the primary thrust through which the country’s infrastructure is being developed. The roads themselves are developed through multiple levels, providing more consistent growth in IAC’s products relating to the road construction and insulating from uncertainties stemming from funding issues and lockdowns introduced due to counter measures to combat COVID-19.