HVA Foods Ltd

Friday, 18 February 2011 00:00 - - {{hitsCtrl.values.hits}}

HVA Foods Ltd., on Tuesday brewed a perfect debut at the Colombo stock market with a hefty increase in value on top of brisk trading. The company’s shares, which were offered at Rs. 16 in the IPO, began trading straight at Rs. 24 and then peaked to Rs. 29 before closing at Rs. 26.30, up by a massive Rs. 10.30 or 64.4%. Around 19.9 million shares changed hands via 10,000 trades, generating a turnover of Rs. 517.2 million. Incidentally, HVA offered 19.9 million shares or a 30% stake via the IPO. All subscribers to the IPO got a minimum of 200 shares only after the Rs. 319 million issue drew demand worth Rs. 7.4 billion. Senior officials from the Company as well as managers to the IPO were present to witness the debut trading. Here from left: Jeewaka Raddalgoda - Executive Director, HVA Foods Ltd., Rohan Fernando - Chairman, HVA Foods Ltd., Nihal Vitarana - Non- Executive Director, HVA Foods Ltd. Acuity Partners Managing Director Ray Abeywardena, Varuni Fernando - Non- Executive Director, HVA Foods Ltd., Harsha Fernando - Executive Director, HVA Foods Ltd., Shehan Cooray – Vice President, Corporate Finance, Acuity Partners (Pvt) Ltd.