The WindForce Limited Initial Public Offering (IPO) of Rs. 3.2 billion, the largest IPO announced at the Colombo Stock Exchange (CSE) since 2011, has attracted applications amounting to a value of Rs. 25.7 billion, demonstrating the strong appetite for IPOs among investors in the Sri Lankan stock market.
The company’s IPO for 202,615,341 shares at an issue price of Rs. 16.00 per share was oversubscribed by 8 times on the initial day.
WindForce Limited is scheduled to commence trading on the Main Board of the CSE during latter part of April 2021.
The listing application of the company was approved by the CSE within a record time of 3 weeks, in-line with CSE’s recent revamp of the listing process to better serve the funding requirements of companies listing on the stock exchange.
The initiative has simplified the process, eliminated redundant approval steps, moved away from a dual approval process, reduced documentation and improved the time- to-market for new and follow-on offerings of equity and debt.
Colombo Stock Exchange (CSE):
The Colombo Stock Exchange (CSE) operates the only stock market in Sri Lanka and is responsible for providing a transparent and regulated environment where companies and investors can come together.
The CSE is a company that is limited by guarantee established under the Laws of Sri Lanka. The CSE is licensed by the Securities and Exchange Commission of Sri Lanka (SEC) and is a mutual exchange consisting of 15 Members and 15 Trading Members.
All Members and Trading Members are licensed by the SEC to operate as Stockbrokers. For more information, please visit: www.cse.lk.