Singer Finance debuts on CSE

Tuesday, 18 January 2011 00:01 - - {{hitsCtrl.values.hits}}

Record-setting Singer Finance Ltd. saw its shares debut on the Colombo Stock Exchange yesterday, following the Initial Public Offering.

Senior officials of the company comprising Singer Sri Lanka Chairman Hemaka Amarasuriya, Singer Sri Lanka CEO Asoka Peiris and Singer Finance CEO Shantha Wijeweera and financial advisors and managers to the offering NDB investment Bank CEO Vajira Kulatunga were present to witness the momentous occasion.

The IPO of Singer Finance, which was for 26,666,667 ordinary voting shares at Rs. 15 per share drew a record 135 times oversubscription with Rs. 54 billion worth of application received. The share price of Singer Finance closed at Rs. 49.20 on its debut trading after peaking to a high of Rs. 50.80 and a low of Rs. 35.