Applications top 500 for Arpico Insurance IPO

Friday, 19 December 2014 11:42 - - {{hitsCtrl.values.hits}}

The successfully concluded Initial Public Offering of the Arpico Insurance Ltd. has drawn over 500 applications. As per the filing to the Colombo Stock Exchange, the IPO of 6.63 million shares at Rs. 12 each worth Rs. 79.5 million had drawn 507 applications worth Rs. 99.12 million. Demand outstripped offer by 17%. Retail applications with payment made by cheques and RTGS amounted to 506 requesting for 8.26 million shares worth Rs. 93.12 million. There was one application with payment made by bank guarantee requesting for Rs. 6 million worth of shares. The basis of allotment will be announced shortly.

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