WealthTrust Securities Limited (WTS), a Sri Lankan non-bank primary dealer licensed by the Central Bank of Sri Lanka, yesterday (24) announced its intention to launch an Initial Public Offering (IPO) of Ordinary Voting Shares.

Through this IPO, the company will offer 71,548,244 Ordinary Voting Shares at Rs. 7.00 per share, raising Rs. 500.8 million, for a 5.84% stake in the company, with the objective of further strengthening its core capital base and enhancing its ability to absorb market and interest rate risks in the evolving interest rate environment.

The IPO offer price provides an 18% upside to the primary valuation methodology used to value the company. The CSE has provided in-principal approval for WTS shares to be listed on the Diri Savi Board of the Colombo Stock Exchange. The company is expected to list with an indicative market capitalisation of Rs. 8.6 billion, reflecting the valuation underpinning the IPO.

The IPO began accepting applications from yesterday (24), with subscriptions officially opening on 17 December. 

To provide potential investors and the public with an overview of the company, WTS has scheduled its media launch for 2 December.

The session will offer a brief introduction to the company, its journey, and the key highlights of the upcoming IPO. The proceedings will be led by the Board of Directors, Managing Director/CEO Romesh Gomez, and the Managers and Financial Advisors to the issue, Asia Securities Advisors. The event will also be streamed live, enabling both local and international participants to join the briefing.

The company is currently rated A- (Positive) by the Lanka Rating Agency.

The public is invited to explore the offering, review the prospectus, and take part in WTS’s next phase of growth through its upcoming IPO.