PickMe rides to positive debut

Shares of leading mobility solutions app, PickMe owner Digital Mobility Solutions Lanka Ltd., had a positive debut yesterday in the Colombo Stock Exchange (CSE).

The stock closed with a gain of 8.33% or Rs. 3 to Rs. 39 with 1.67 million shares changing hands via 825 trades generating turnover of Rs. 66.36 million. The price range yesterday was Rs. 41.50 and Rs. 38.90.

The successful IPO last month involved issuance of shares worth Rs. 1.56 billion (43,474,179 existing ordinary voting shares at Rs. 36 each), and when it closed on the opening day itself on 13 September, the demand had been for shares worth Rs. 4.2 billion. The shareholding percentage on offer is 13.04%. There had been 866 applications requesting for 116.646 million shares worth Rs. 4.199 billion. – See Page 7 as well.