Alumex comes with Rs. 839 m IPO

Wednesday, 12 February 2014 00:17 - - {{hitsCtrl.values.hits}}

Hayleys Plc subsidiary Alumex Ltd., has announced a Rs. 839 million Initial Public Offering as part of listing on the Colombo Stock Exchange. The Colombo Stock Exchange (CSE) has approved in principle an application submitted by Alumex Ltd., for the listing of 59.9 million ordinary voting shares (comprising of an Offer for Subscription tranche of 17.9 million shares and an Offer for Sale tranche of 42 million shares) at Rs.14.00 per share. The date of the opening of the subscription list is 6 March whilst the investing public can subscribe from 18 February. Alumex is the leading manufacturer of aluminum extrusions and in November 2010 Hayleys acquired 95% stake in the Alumex Group for Rs. 2.2 billion. NDB Investment Bank is the financial advisors and managers to the Alumex IPO.

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