Acuity Stockbrokers recommends Textured Jersey IPO as buy

Tuesday, 5 July 2011 00:00 - - {{hitsCtrl.values.hits}}

Textured Jersey Lanka, (TJL) announced its initial public offering of Eighty million (80,000,000) new Ordinary Voting Shares of the Company at the rate of LKR 15.00 to be listed on the Main Board of the Colombo Stock Exchange. The issue opens for subscription on 7th July 2011, closing on 27th July 2011 or the date on which the issue is oversubscribed. The IPO is expected to raise LKR 1,200 million (LKR 1.2Bn) in total for the new modern production facility, its machinery as well as a water treatment plant.