pornjk, pornsam, xpornplease, joyporn, pornpk, foxporn, porncuze, porn110, porn120, oiporn, pornthx, blueporn, roxporn, silverporn, porn700, porn10, porn40, porn900
Kapruka IPO Within This Year
Posted 4,November

By Chaveendra Dunuwille

In Local News

Listen to the Article

 1,684 views

Sri Lanka’s largest e-commerce platform, Kapruka Holdings Ltd., will offer investors a 20% in the company via an Initial Public Offering which is said to take place in December 2021. The IPO hopes to raise LKR 505.5 million, with an ordinary voting share sold for LKR 15.40 per share. 

Founded in 2003, the company currently has an ex-pat customer base of over 1.1 million and has managed to establish a geographical foothold in the US, UK, Australia, and India as the designated retailer for Sri Lankan products in Amazon, eBay, Etsy, and Walmart. In the Financial Year 2020/21, the company recorded a post-tax profit of LKR 44 million from a revenue of LKR 964 million. 57% of the company’s revenue originated outside of Sri Lanka. 

Kapruka has several investment plans in mind for the proceeds from the IPO. LKR 100 million will be used to upgrade the existing technologies and infrastructure. LKR 200 million will be used to fund the envisioned Kapruka Partner Central, a premier marketplace for well-established brick & mortar shops in the country. 

Kapruka plans on using LKR 50 million to introduce Soldout.lk. Another LKR 100 million is to be used to improve the company’s cross-border operations to become a full-fledged ‘E-commerce distributor.’ This would allow Kapruka to manage, market, sell & ship Sri Lankan products on Amazon & eBay. Another LKR 55 million will be allocated to launch the Kapruka Wholesale marketplace to focus on B2B transactions. 

The company plans to increase its cross-border production by 25% by 2025. Furthermore, the company plans on accepting crypto payments shortly.