First Empower IPO, Chrissworld Oversubscribed
Posted 6,May

By Chaveendra Dunuwille

In Local News

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 The logistics and warehouse firm Chrissworld Ltd. Recently became the first  company to list in the empower board of the Colombo Stock Exchange & its  Initial Public Offering (IPO) which opened on the 27th of April, 2021 became the  first IPO to be launched by a company listed in the empower board of the CSE.  

The IPO which presented 7.5 million shares at a price of LKR 7.50 per share  closed on opening day with resounding success as it was oversubscribed  receiving 283 application for a total of 16.183 million shares, more than twice  the original amount with a garnering a total value of LKR 121.373 million.  

According to the company officials the profits from the IPO will be used to  upgrade the companies facilities such as the introduction of a new racking, new  material handling and new warehouse management system to increase the  company’s efficiency.