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Friday January 21st, 2022
Markets

Sri Lanka’s e-commerce retailer Kapruka Holdings Limited debuts trading on CSE

ECONOMYNEXT – Sri Lanka’s e-commerce retailer Kapruka Holdings Limited commenced trading on the Colombo Stock Exchange (CSE) on Friday as it listed the shares on the main CSE board under the “Retailing” sector.

The IPO, the first in 2022, was oversubscribed 5.8 times on the first day and Kapruka became the first e-commerce company to be listed in the CSE in its history.

“I couldn’t think of a better company than the leader in that segment to start what I hope is just the beginning of a lot more IT and E-Commerce companies coming to the capital market this year,” Dumith Fernando, Chairman of the CSE said after the debut trade was marked with a special Bell Ringing Ceremony.

“These are the companies that we, as a stock exchange, love to see come into this market.”

He said over Rs. 120 billion worth of new capital was raised through the CSE in 2021 with 13 companies listed

Dulith Herath, the Chairman and CEO of Kapruka Holdings said the company had never raised a single rupee from any individual investors before.

“I hope that the Kapruka story will encourage more and more tech companies to come to the market,” he said.

The shares rose over 44 percent to close at 22.30 rupees compared to its IPO price of 15.40 rupees a share on the debut trading day. (Colombo/Jan.07/2022)

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