Prime Lands Residencies Limited Initial Public Offering (IPO) of 100,000,000 shares at Rs. 10.40 per share at the Colombo Stock Exchange (CSE), which opened yesterday, April 11, 2021, was oversubscribed on the initial day itself.
Accordingly, the company decided to exercise the option to issue up to another 87,500,000 Ordinary Voting Shares of the Company at Rs. 10.40 per Share. Such Shares were allocated based on the applications received up to 4.30 p.m. yesterday, May 12, 2021.
The Share subscription closed at 4.30 p.m. yesterday, May 12, 2021. The IPO of Prime Lands Residencies Limited successfully raised the initial sum of Rs. 1.04 Bn.
By the close of the issue, strong response in terms of applications, was seen with regard to raising the extended issue of 87,500,000 Ordinary Voting Shares, amounting to Rs. 910 million. All three equity IPOs in 2021 were successfully oversubscribed on the opening day itself.
Colombo Stock Exchange (CSE):
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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.
