Tuesday, April 26, 2011

expo ipo

Expo Lanka Holding Limited - IPO

Sri Lanka's stock exchange has approved an initial public offering by Expolanka Holdings to raise 2.4 billion rupees by issuing 172 million ordinary voting shares at 14 rupees each. The IPO opens May 12 with the prospectus was available on April 25.
The company has said it plans a sell-down of a 25 percent stake including a recent private placement to raise funds for expansion and repay debt.
The company announced after its recent private placement that three independent directors had been appointed to its board. 

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