First Capital Treasuries’ Rs. 300 m IPO oversubscribed by 4.5 times

Friday, 17 December 2021 04:08 - - {{hitsCtrl.values.hits}}

First Capital Treasuries PLC, a subsidiary of First Capital Holdings PLC, saw its Rs. 300 million worth Initial Public Offering (IPO) being oversubscribed 4.5 times within hours on its opening day and the offering was closed on the same day, as indicated in the prospectus.

First Capital Treasuries received 1,991 applications amounting to Rs. 1.3 billion for the 7,695,000 ordinary voting shares that were offered at Rs. 39 per share. The company extended its gratitude to the investors for their trust and confidence in the First Capital Group. The allocation of shares was concluded on 15 December.

Managed by the Corporate Finance division of the First Capital Group, the issue was aimed at helping First Capital Treasuries broaden its ownership base and strengthen its brand identity.

Established in 1982, First Capital Treasuries boasts an illustrious history as the pioneer licensed primary dealer appointed by the Central Bank of Sri Lanka to deal in Government securities. First Capital is a member of the Janashakthi Group.