CSE approves Prime Lands Residencies IPO | Sunday Observer

CSE approves Prime Lands Residencies IPO

2 May, 2021

The Colombo Stock Exchange (CSE) has approved an application submitted by Prime Lands Residencies Limited, for the listing of its Ordinary Voting Shares by way of an offer for subscription.

The company will be listed on the Diri Savi Board (or Main Board as relevant) of the CSE subject to compliance with the CSE Listing Rules and Securities and Exchange Commission of Sri Lanka (SEC) directives. The company will offer for subscription 100,000,000 new Ordinary Voting Shares of the Company at Rs. 10.40 with an option to issue a further 87,500,000 Ordinary Voting Shares at Rs.10.40 per Share.

Initial Public Offering (IPO) is to raise f Rs. 1.04 bn with an option to raise a further Rs. 910 million in the event of an oversubscription. The IPO is due to open on May 11.