Sri Lanka small investors get preference in People’s Insurance IPO

ECONOMYNEXT – Retail individual investors, mutual funds and employees would be given full allotments of shares in the initial public offer by Sri Lanka’s People’s Insurance, a unit of listed People’s Leasing.

In the non-retail investor category, 190 applications for 1.8 million shares of up to 13,200 shares each would be allotted in full, a stock exchange statement said.

It said there were 390 applicants for 340 million shares who would be given a minimum  of 13,200 shares plus 11.5 percent of the shares applied for over and above 13,200 shares.

The People’s Insurance IPO offering 50 million shares at 15 rupees each to raise 750 million rupees was oversubscribed on the opening day itself.  (Colombo/January 04, 2016)

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