Agarapatana IPO opens tomorrow

Wednesday, 9 August 2023 03:08 - - {{hitsCtrl.values.hits}}

The Initial Public Offering (IPO) of Shares of Agarapatana Plantations Ltd., one of Sri Lanka’s leading, innovation-driven plantation companies, will open on Thursday 10 August.

The Issue will see 83,070,111 or 16.61% of the Ordinary Voting Shares of Agarapatana Plantations Limited offered to the Public at an Issue Price of Rs. 9.00 per share, with the Company seeking to raise a total of Rs. 747,63 million through public investment, and a listing on the Diri Savi Board of the Colombo Stock Exchange. Agarapatana Plantations is a strong player in the plantation sector with a heavy focus on tea, and interests in renewable energy.

The Company in a statement said the IPO presents investors with an exceptional value proposition, with a compelling discount to the valuation based on the price-to-earnings and EV/Hectare metrics.

“The Company’s recently concluded Investor Forum witnessed active participation from both domestic and international investors, which included high-net-worth individuals and retail investors, together with several institutions and funds,” the statement said.

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