Sri Lanka brush maker Beira group IPO oversubscribed
Mar 07, 2017 16:28 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Sri Lanka's BPPL Holdings, a brush exporter also known as Beira Group, said its initial public offer of 30.68 million ordinary shares at Rs12 each was oversubscribed and closed on the opening day Tuesday.
A stock exchange filing said it got applications for over Rs368.2 million.
Hirdramani Investment Holdings (Pvt) Ltd, which owns a 23.4 percent stake, sold down 30.6 million shares (10 percent stake) to raise Rs368.2 million.
B P P L Holdings Ltd. has got approval from the Colombo Stock Exchange to list on the Diri Savi second board.
(COLOMBO, March 07, 2017)