Oversubscribed IPO For Lanka Credit & Business Finance 
Posted 27,October

By Chaveendra Dunuwille

In Local News

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According to NDB Investment Bank, the Initial Public Offering (IPO) of Lanka Credit & Business Finance oversubscribed in a matter of hours. 

The IPO sought to offer 125 million ordinary voting shares for LKR 4 per share. The company IPO received up to LKR 500 million worth of applications before its close at 1630 hours on the 26th of October, 2021. 

Lanka Credit & Business Finance managed to record a profit of LKR 25 million as its interest income showed a marginal increase from LKR 456 million to LKR 461 million. At the same time, its interest expenses decreased from LKR 131 million to LKR 108 million as its net income interest rose from LKR 292 million to LKR 348 million.