ECONOMYENXT – Sri Lanka’s NDB Investment Bank said it sold debt, equity and takeover deals in advised take-overs worth 55 billion rupees in 2017, including an initial public offer in the Maldives and a pharmaceutical sector transaction in Bangladesh.
During the year, NDBIB successfully executed over 40 distinct transactions amounting to over LKR 55 Bn, for its diverse clientele spread across Sri Lanka, Maldives and Bangladesh.
NDBIB had carried out 9 billion rupees of equity deals, 14 billion rupees of mergers and acquisitions and 32 billion rupees of in debt and other advisory activities.
Vajira Kulatilaka, CEO of NDB group’s Investment Banking Cluster said it was able to use it domestic market strength to expand into South Asia.
The company said the IPO for Ooredoo Maldives PLC, was the first by a Sri Lankan firm done overseas. The pharmaceutical sector deal done with NDIB Bangladesh was the largest such in the country, it said.
The M&A space witnessed heightened levels of activity during 2017 with NDBIB’s leadership in this vertical characterised by the active involvement in the largest ever pharma sector M&A transaction in Bangladesh,
In Sri Lanka NDBIB had been involved in Dialog Axiata’s acquisition of Colombo Trust Finance Plc, a licensed finance company, the sale of a family owned fertilizer manufacturer, Unipower, to CIC Holdings and the acquisition of United Motors by RIL Property Plc. (Colombo/Jan25/2018)