Drive Green to go for IPO

Saturday, 6 November 2010 05:32 - - {{hitsCtrl.values.hits}}

The popularly known “Drive Green” or the vehicle emission testing company is set to go in for an IPO as Clean Co Lanka.

The announcement was made Thursday by Akbar Brothers Executive Director Asgi Akbarally during the MTI IPO Forum on how the company’s engagement in the pre-IPO stage.

Currently it is gearing up to enter the market as a subsidiary of the Akbar Brothers with 52 fixed stations and 82 mobile units.

Akbar Brothers had purchased a 65% stake in the company and as part of its equitable expansion is looking at listing the company in a bid to retire debt and facilitate further expansion. (SD)