LTL Holdings puts off IPO opening

LTL Holdings Ltd., has announced the postponement of the opening of its Rs. 20 billion worth Initial Public Offering (IPO).

The issue, the biggest in the Colombo stock market’s history, was scheduled to open on 13 September.

The postponement follows the Colombo Stock Exchange requiring LTL Holdings to provide further information in relation to Rividhanavi Ltd., (the special purpose company that is incorporated to undertake the 100MW solar power project in Siyambalanduwa, and for which part of the IPO proceeds were to be invested).

LTL said it will provide the said additional information required by the CSE as soon as possible and in consultation with the CSE provide further information pertaining to the opening date of the subscription list in due course.