Thursday Nov 21, 2024
Thursday Nov 21, 2024
Friday, 31 December 2021 00:00 - - {{hitsCtrl.values.hits}}
LOLC General Insurance Ltd. will debut on the Colombo Stock Exchange (CSE) today following a successful Initial Public Offering.
The shares of the Company amounting to 1.2 billion would be listed with security code of LGIL-N-0000 on the Diri Savi Board of the CSE, and will be classified under ‘40301040 - Property & Casualty Insurance’ sector.
The IPO, aimed at raising Rs. 948 million, drew 12,206 applications requesting for shares worth Rs. 11.6 billion. The offer was for 120 million shares (held by LOLC Asset Holdings Ltd.) at Rs. 7.90 each.
Post-IPO, LOLC Group Companies; LOLC Asset Holdings Ltd. will have a shareholding of 63.75% and LOLC Financial Sector Holdings Ltd. will have a shareholding of 26.25%.
LOLC General Insurance Ltd. is one of the fastest-growing general insurance companies in Sri Lanka. The company has been operating in the insurance industry for over 10 years and has established itself as a key player within the industry.
