Arpico Insurance becomes first listing on CSE for 2015
Monday, 19 January 2015 00:11
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Arpico Insurance Ltd. was listed on the Diri Savi Board of the Colombo Stock Exchange (CSE) on Friday, 16 January, marking the first listing for 2015 on the CSE.
Richard Peiris & Company Director Prof. Lakshman R. Watawala rang the ceremonial opening bell to begin trading for the day and he was joined by Arpico Insurance Viville Perera, Arpico Insurance S. Sirikananathan, Arpico Insurance Director Jagath Dissanayake, Arpico Insurance CEO D.C. Kevitiyagala, Arpico Insurance AGM Operations T.S. Kitchilan, Arpico Insurance Finance Manager Melanga A. Doolwala, Richard Peiris Securities Dilruk Fernando, Arpico Ataraxia Director Sharad Sri and Arpico Ataraxia Investment Banking Vice President Tharanga Gamage.
On the first day of trading Arpico Insurance Limited shares’ opened at Rs. 14.00, closed at Rs. 14.10, and reached a high of Rs 15.00. Through the IPO Arpico Insurance raised Rs 79.56 Million by way of listing 6,630,400 shares at Rs 12.00.
Arpico Insurance began operations in January 2012. The company is now expanding its geographical presence and covering eight major provinces, Western, Southern, Northern, North Western, North Central, Eastern, Sabaragamuwa and Uva, with a total branch network of 19.
Arpico Insurance launched its IPO on 11 December and was oversubscribed by 12 December.
The company opened for trading on the CSE on the completion of three years of operation, on 12 January. This marks a major milestone in the company’s history and displays its commitment towards good corporate governance and sharing its success with the public.
Arpico Insurance is a subsidiary of Richard Pieris and Company PLC.
