Free Lanka Capital gives minimum 10,000 shares to all

Free Lanka Capital Holdings Ltd., has announced a basis of allotment on its Rs. 1.5 billion IPO that offers a minimum of 10,000 shares to all applicants.

The Company said that applicants who had applied up to 10,000 shares will get their full request whilst those seeking between 10,001 to 17,001 shares will get 10,700 shares and those who sought 17,001 to 20,000 shares will get 11,000.

The non-retail category investors will be given a minimum of 11,000 plus 0.94% on the balance number of shares for applications seeking 20,001 to 20 million shares and those who applied for over 290 million shares will get minimum of 11,000 plus 0.94% on the balance number of shares plus a further 19.950 shares.

Free Lanka Capital put on offer 300 million shares at Rs. 5 each offering a 22% stake. It was oversubscribed by 46 times drawing 34,845 applications (mostly via bank guarantees) worth Rs. 69 billion.