Friday Nov 15, 2024
Friday Nov 15, 2024
Tuesday, 26 December 2017 02:09 - - {{hitsCtrl.values.hits}}
The recently oversubscribed IPO of LVL Energy Fund Ltd. had attracted 749 retail applications.
The value of their applications is Rs. 1.36 billion whilst the IPO was worth Rs. 1.2 billion offering 120 million shares at Rs. 10 each.
The IPO had drawn three applications worth Rs. 60 million with payment made by bank guarantees.
In total the IPO drew 752 applications requesting Rs. 1.42 billion shares.
The financial advisor and manager to the IPO was Acuity Partners.
The LVL Energy Fund IPO was the biggest in four years. LEF is a subsidiary of Lanka Ventures Plc and was incorporated in 2006 for the purpose of consolidating LVEN’s energy sector investments. LEF has invested jointly with reputed project developers to develop and operate power generation projects (installed capacity of operational projects amounts to 136.6 MW). LEF will be using IPO funds to retire some debt and retire some preference shares to be invested in three new hydropower projects.
