Retail investors get full allotment in Sri Lanka’s RIL Property IPO

ECONOMYNEXT – Sri Lankan retail investors who applied for up to 12,500 or 100,000 rupees worth of shares in the share issue by RIL Property Limited (RIL) have been given full allotments, a stock exchange filing said.

It said 692 retail investors had applied for a total of 1.6 million shares in the initial public offer of RIL Property, the owner and operator of commercial office space in the Sri Lankan capital Colombo.

RIL Property offered 120 million ordinary voting shares in the IPO to raise 960 million rupees, with the issue being oversubscribed on opening day itself.

NDB Capital Holdings Limited (NCAP), the cornerstone investor in the IPO, which had committed to subscribe for up to 25 million shares worth 200 million rupees, had been allotted a minimum of 15 million shares.

Applications for up to 15 million shares, for which there were 114, will also be given 100 percent of the shares applied for, the statement said.

There were two applications for over 15 million shares who would be given the minimum 15 million shares plus 23 percent of the shares applied for above the minimum.
(COLOMBO, April 19, 2017)

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