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First Capital IPO Oversubscribed By 4.5x On Opening Day
Posted 17,December

By Chaveendra Dunuwille

In Local News

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The Initial Public Offering of Sri Lanka’s leading non-bank primary dealer, First Capital Treasuries PLC, was oversubscribed by times 4.5 on opening day. The subsequent oversubscription resulted in the offering closing on the same day. 

The IPO was managed by the Corporate Finance Division of First Capital, and it received 1991 applications worth LKR 1.9 billion. The IPO offered 7,695,000 ordinary voting shares with the price tag of LKR 39 per share. 

The main objectives of the IPO were the strengthening of brand identity & broadening of the institutes’ ownership base.