JAT Holdings will commence its initial public offering (IPO) tomorrow (20). Managed by CAL and NDB Investment Bank, JAT Holdings’ IPO aims to raise Rs. 2.2 billion by offering 82,904,846 ordinary voting shares to the public. The IPO price per share of Rs. 27.00 offers an immediate upside of 21% to an incoming investor on the value per share of Rs. 32.70; derived from a combination of discounted cash flow (DCF) and forward earnings ratio (PER) valuation methods.
Proceeds from the company’s IPO will be used for the company’s near-term objectives of investment in enhancing the existing R&D facility to a fully fledged, state-of-the-art facility for all coatings, setting up a manufacturing facility in Bangladesh, expanding the WHITE by JAT marketing and development initiatives, and setting up a manufacturing facility in East Africa. Adapting to dynamic global trends and needs, the company also introduced ecommerce platforms to suit the modern world today. These initiatives further prove JAT’s commitment to elevate Sri Lanka to global heights.