The Colombo Stock Exchange is to host several Initial Public Offerings (IPO’s) as company’s gear up to explore the dynamic benefits of listing in the Stock Market. One of the companies en route to announce their potential IPO is PickMe.
PickMe, the largest domestic ride hailing service is said to announce its very own IPO. The revolutionary PickMe software founded in June 2015 enabled the real time communication between passengers and drivers and is planning to further upgrading the local transport industry. PickMe founder and CEO Zulfer Jiffry stated that the company plans to go public but the details were not yet finalized. The CEO refused to divulge any further information when asked as to how much the company hopes to gain from the IPO. The Chairmen of the Colombo Stock Exchange Dimuth Fernando when inquired about the potential IPO stated that he was unaware of such an IPO by the company.
The Colombo Stock Exchange recently played host to one the largest IPO’s in over 9 years for the largest renewable energy source provider of Sri Lanka Windforce Ltd. The recent increase in the potential IPO’s can be considered as an effect of the government initiatives to encourage family businesses to go public and companies seeking to emulate the success of similar to oversubscribed IPO of Windforce Ltd.
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