CSE says Windforce IPO reflects strong investor appetite

Thursday, 1 April 2021 04:05 - - {{hitsCtrl.values.hits}}

The Colombo Stock Exchange (CSE) in a statement said the success of WindForce Ltd.’s IPO demonstrated strong appetite among investors.

It said the IPO worth Rs. 3.2 billion attracted applications worth Rs. 25.7 billion, thereby “demonstrating the strong appetite for IPOs among investors in the Sri Lankan stock market”.

CSE said Windforce is scheduled to commence trading on the main board of the CSE during the latter part of April.

“The listing application of the company was approved by the CSE within a record time of three weeks in line with CSE’s recent revamp of the listing process to better serve the funding requirements of companies listing on the stock exchange.

“The initiative has simplified the process, eliminated redundant approval steps, moved away from a dual approval process, reduced documentation and improved the time-to-market for new and follow-on offerings of equity and debt,” CSE added.

Windforce IPO twice oversubscribed at retail level itself