Asia Asset Finance soars on debut

Robust gains for the Asia Asset Finance share which debut yesterday played a part in stimulating the Colombo Bourse.

Debutant Asia Asset Finance was the biggest gainer percentage wise (69%) in addition to been the highest volume (38.5 million shares transacted via 2428 trades) and second largest by turnover (Rs.144 million).

It peaked to an intra-day high of Rs. 4.30 up by 72% from its IPO price of Rs. 2.50 whilst it opened trading at Rs. 3, up by 20% and closed at Rs. 4.20, up by Rs. 1.70 or 68%.

The market overall saw a strong rebound with ASI up by 1.3% and MPI by 1.1% with a recent time high turnover of Rs. 1.06 billion. This is the first trading of stock by a finance company to the public for the year 2012.