Wednesday, August 4, 2010

ODEL breaks records in CSE

ODEL.N0000 reocrds more than 12,000 trades and more than 30% increase in a day today (2010 Aug 4th)!!

ODEL LIMITED (“THE COMPANY”) – LKR 250.5 MILLION worth ordinary shares of the above company was listed today (on 4th August 2010) on the Diri Savi Board of the CSE and
classified under the Footwear and Textile Sector.

The assigned security code is ODEL-N-0000. A total number of 144,950,000 ordinary shares of the company was listed. Deposits would be
accepted by the Central Depository Systems (Pvt) Ltd (“CDS”) with immediate effect.

ODEL shares rocketed up to Rs. 38.50 in its first day of trading before setting back to a sober Rs. 35.40 at the time this article was published. Almost 13 million shares were traded in more than 10,000 trades. Prices opened at Rs. 15 this morning in what was a much anticipated IPO by one of the leading clothing retailers/ department stores in the country.

Founded 20 years ago, the ODEL chain of definitive fashion and lifestyle stores now comprises of 12 outlets at Alexandra Place, Kohuwala, Mount Lavinia, Moratuwa, Panadura, Maharagama, Nugegoda (Warehouse), Dickman's Road, Ja-ela, Majestic City, Crescat (Backstage) and at the Bandaranaike International Airport. ODEL's 13th store opens at Battaramulla , 16th July.

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