Expolanka IPO draws Rs. 11.5 b

The year to date biggest IPO worth Rs. 2.4 billion of Expolanka Holdings Ltd. had drawn applications worth Rs. 11.5 billion.

Registrars to the issue SSP Corporate Services said yesterday the IPO had drawn 13,025 applications with a combined value of Rs. 11.5 billion. Applications with payments made by bank draft and cheques were 12,917 requesting for 143.1 million shares worth Rs. 2 billion. Applications via bank guarantees amounted to 108 requesting for 678.5 million shares worth Rs. 9.5 billion.

One of Sri Lanka’s few multinationals, the family controlled Expolanka Holdings offered a near 9% stake of the company amounting to 172 million shares at Rs. 14 via its IPO.