Biggest IPO since 2005 Softlogic’s Rs. 4 b issue up for subscription from next week

Diversified Softlogic Holdings Ltd’s Rs. 4 billion worth Initial Public Offering (IPO), biggest since 2005 will be up for subscription for the public from next week whilst its official opening is slated for 9 June.

The Colombo Stock Exchange (CSE) said yesterday it has approved in principle the application by Softlogic to list its voting shares on the Diri Savi Board.

The IPO will be for 139 million ordinary voting shares at Rs. 29 each. The IPO is the biggest since top mobile firm operator Dialog Axiata listed in July 2005.

Prospectus will be out from 31 May whilst the official opening is 9 June.

Lead managers and financial advisors to the issue is John Keells Capital whilst joint managers and financial advisors is CT Capital. Joint Managers and Registrars to the issue is PW Corporate Secretarial Ltd.