Single applicant dominates Sri Lanka Orient Finance IPO

ECONOMYNEXT –A single applicant accounted for over two-thirds of applications for shares in the initial public offer of Sri Lanka’s Orient Finance on its opening day, a stock exchange filing showed.

Orient Finance offered 71.5 million shares at 15 rupees each to raise 1.07 billion rupees.

The statement said the company got 263 applications for almost 65.8 million shares worth 987 million rupees with one application alone for 56.7 million shares worth 850.9 million rupees.

The other 262 applications were for just over nine million shares worth 136 million rupees, the company said.

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