Free Lanka Capital Rs. 1.5 b IPO through

THE Rs. 1.5 billion Initial Public Offering (IPO) of Free Lanka Capital Holdings (FRCH) was closed yesterday on its official opening day after it was oversubscribed, its registrars SSP Corporate Services Ltd. said.

FRCH offered a 22% stake amounting to 300 million shares at Rs. 5 each.

Details of the oversubscription and basis of allotment will be announced shortly.