Taprobane share peaks to Rs. 10 before closing up 16% on debut

Taprobane Holdings Ltd., which debuted yesterday on the Colombo Stock Exchange, peaked to a high of Rs. 10 before closing at Rs. 7, one rupee or 16.67% from its indicative price.

The debutant saw 653,782 of its shares changing hands via 446 transactions. It was the fourth highest gainer percentage wise yesterday.

Classified as a diversified, Taprobane Holdings finished the day with a market capitalisaton of Rs. 5.1 billion. TAP was the third company to list on the CSE via introduction so far this year.

The company’s 732,949,140 ordinary voting shares were listed on the Diri Savi Board.

TAP’s principal business is investment and management of its associates and subsidiaries as well as portfolio management. It also holds a 28% stake in Browns Investments Plc.

Established in September 2006, its exposure covers financial services plantation management, real estate, telecommunication engineering, power, manufacturing and construction.

Board of Directors of Taprobane Holdings comprises R.L. Nanayakkara (Chairperson), Ajith Devasurendra

Deputy Chairman, Dinal Wijemanne (Director/CEO), D.A.B. Dassanayake, R.R. Anthony, P.D.J. Fernando and D.W.P. Upali.