NAVIGATE
:
Home  » Business

Business

 
 

IPOs and listed debenture issues take off despite CSE depression



Despite the Colombo Stock Exchange plunging to an eight month closing low on Friday, two Initial Public Offerings (IPOs) by LVL Energy Fund Ltd. (LEF) and Jetwing Symphony Ltd. closed over-subscribed on their opening day while a listed debenture issue by the Sampath Bank was similarly over-subscribed.

"This is a positive signal in the context of the falling market," a stock analyst said. "Both LEF and Jetwing Symphony will be listed on the CSE when the share allotments are completed in the next few days."

LEF sought Rs. 1.2 billion equity funds by the issue of 120 million new shares at 10-rupees each while Jetwing Symphony raised Rs. 753 million through a ‘book building’ process through which bids for the shares were invited at Rs. 15, Rs. 16, Rs. 17 and Rs. 18.

With the majority of the bids at the 15-rupee price, this was determined as the strike price and investors bidding higher would have the difference between Rs. 15 and their bid price refunded.

Read More...
 
 

UDA nominates new director to Colombo Land & Development

The Urban Development Authority has nominated Mr. W.D.A.S. Perera, one of its directors, to serve on the Board of Directors of Colombo Land and Development Company PLC, owners of the Liberty Plaza and other urban property development projects from Dec....

Central Finance shuffles its NTB stake within group

Central Finance Company PLC (CF), one of strongest finance companies in the country, which together with John Keells Holdings is a major shareholder of Nations Trust Bank PLC, has shuffled its group holding of NTB with two of its subsidiaries with the ...

Carsons sell 500,000 Lion between Rs. 540 & Rs. 550

Carson Cumberbatch PLC, the controlling shareholder of Lion Brewery Ceylon PLC, last week sold off 500,000 shares of Lion at prices between Rs. 540 and Rs. 550, the Colombo Stock Exchange was notified in terms of its listing rules.Carsons sources in...

Asiamoney names HNB the Best Cash Management Bank in Sri Lanka

test

HNB, Sri Lanka’s leading private sector bank, has been recognised by Asiamoney as the "Best Cash Management Bank in Sri Lanka". This prestigious award to HNB is a first for a local bank in Sri Lanka in cash management. ...

Sala GIS launches its latest GPS Navigator DVR System

test

Sala Geo Information Systems (Pvt) Limited introduced its latest satellite technology based Navigation system with DVR recently. With these salient features GPS Navigator DVR system is also inbuilt with a DVR camera which feeds live video images of the...

Around Sri Lanka on one tank, Mercedes-Benz VITO beats the odds

test

Achieving a truly outstanding milestone in mileage, Mercedes-Benz announced the successful completion of its unprecedented Around Sri Lanka in One Tank with VITO Challenge.Organized by DIMO PLC, the ambitious adventure was designed to definitively p...

Shares at 8-month closing low on political & policy uncertainty

Equities continued to lose steam last week, falling ~23 points week-on-week to hit an eight-month low of 6,352.1 points as concerns over domestic political and policy uncertainty dominated sentiment and the US Fed raised interest rates for the third ti...

Kaema Sutra and Sri Lankan culture

test

Kaema Sutra allows us to present the most modern take on native cuisine whilst also being deep-rooted in the culture of Sri Lanka, with its rich history spanning thousands of years, says Timothy Wright, Vice President and General Manager of Shangri-La ...

Nations Trust Bank’s Millennium Branch (Nawam Mawatha) Revamped

test

Nations Trust Bank’s Millennium Branch at Nawam Mawatha has been extensively refurbished and is now equipped with a more spacious interior and even more facilities. The newly refurbished branch remains at its usual, familiar location and now deli...

Dasabala Sakthi Nutrient Supplement from Irahanda Vedagedara

test

Irahanda Vedagedara, known for reliable herbal products, launches Dasabala Sakthi, a nutrient supplement with promising aphrodisiac properties and rich in Vitamin C & B6 to boost immunity and robust health. The product comprises of garlic, bee hone...

 
 
 
 
 
 
animated gif
Processing Request
Please Wait...