The initial public offering (IPO) of Lanka Credit and Business Finance Ltd. (LCB Finance), through an offer for subscription of up to 75,000,000 ordinary voting shares in the first instance and a further 50,000,000 ordinary voting shares at the option of the Board of Directors at Rs. 4 per share, which opened yesterday (26), was oversubscribed on the initial day itself.
The IPO by LCB Finance received applications for over Rs. 500 million and as such, the initial issue and the further issue were closed at 4.30 p.m. yesterday.
Commenting on the issue, Colombo Stock Exchange (CSE) Chief Executive Officer (CEO) Rajeeva Bandaranaike remarked: “As a well-established finance company in Sri Lanka, we are happy to welcome LCB Finance Ltd. to the Colombo Stock Exchange. The attention and interest received from the public for the IPO is encouraging for the company, indicating trust and credibility that LCB Finance has achieved. We congratulate LCB Finance on the success of the IPO and this progressive step to enter the capital market. The company marks the seventh equity listing for the year 2021 on the CSE.”
LCB Finance IPO oversubscribed
27 Oct 2021
LCB Finance IPO oversubscribed
27 Oct 2021
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