LOLC General Insurance IPO oversubscribed on opening day

Friday, 17 December 2021 04:09 - - {{hitsCtrl.values.hits}}

The Initial Public Offering (IPO) of LOLC General Insurance Ltd., through an Offer for Sale of 120 million Ordinary Voting Shares at a price of Rs. 7.90 per share, which opened yesterday, was oversubscribed on the initial day itself.

The IPO by LOLC General Insurance received applications for over the IPO value of Rs. 948 million and, as such, the issue was closed at 4:30 p.m. yesterday.

LOLC General Insurance is the 12th Equity IPO at CSE in 2021. It should be noted that all the equity IPOs held in 2021 comprising of Windforce Ltd., Chrissworld Ltd., Prime Lands Residencies Ltd., JAT Holdings Ltd., Ex-Pack Corrugated Cartons Ltd., Lanka Credit and Business Finance Ltd., Sarvodaya Development Finance Ltd., Capital Alliance Ltd., hSenid Business Solutions Ltd., First Capital Treasuries PLC, and Myland Developments Ltd. were oversubscribed on the opening day itself.

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