CSE approves Rs. 750 m IPO of People’s Insurance

People’s Insurance Ltd., a wholly owned subsidiary of People’s Leasing and Finance Plc, will be the latest entity to be listed on the Colombo Stock Exchange.

The CSE has in principle approved the application for its listing of 200 million ordinary shares shortly. Through the IPO, People’s Insurance will offer 50 million shares at Rs. 15 each with the total value being Rs. 750 million. The public can subscribe to the IPO from 7 December whilst its official opening is on 16 December. Joint financial advisors for the IPO are NDB Investment Bank Ltd., Acuity Partners Ltd. and People’s Bank’s Investment Banking Unit.