Official opening of Vallibel One IPO today

Tuesday, 21 June 2011 00:46 - - {{hitsCtrl.values.hits}}

The official opening of the Rs. 533 million Initial Public Offering (IPO) of Vallibel One Ltd. (VOL) is today with all indications it has already been fully subscribed.

VOL is offering 21.3 million shares at Rs. 25 each. The company will be listed on the Diri Savi Board of CSE. It is the holding company of select investments of business leader Dhammika Perera.

VOL holds a 51% stake each in Royal Ceramics, LB Finance and more recently Delmege Forsyth Group and a 15% stake in Sampath Bank. It also has interests in leisure whilst scouting for opportunities in mini hydro.

A minimum of 100 shares per application has been set and applications in excess of this minimum subscription shall be in multiples of 100.

At least two broking firms have recommended the Vallibel One IPO as ‘buy’.The oversubscribed private placement of Rs. 4.9 billion (it drew applications worth Rs. 7.5 billion early) this year at the same price as IPO indicates a successful IPO, Arrenga Capital said.

See also page 10.The official opening of the Rs. 533 million Initial Public Offering (IPO) of Vallibel One Ltd. (VOL) is today with all indications it has already been fully subscribed.

VOL is offering 21.3 million shares at Rs. 25 each. The company will be listed on the Diri Savi Board of CSE. It is the holding company of select investments of business leader Dhammika Perera.

VOL holds a 51% stake each in Royal Ceramics, LB Finance and more recently Delmege Forsyth Group and a 15% stake in Sampath Bank. It also has interests in leisure whilst scouting for opportunities in mini hydro.

A minimum of 100 shares per application has been set and applications in excess of this minimum subscription shall be in multiples of 100.

At least two broking firms have recommended the Vallibel One IPO as ‘buy’.The oversubscribed private placement of Rs. 4.9 billion (it drew applications worth Rs. 7.5 billion early) this year at the same price as IPO indicates a successful IPO, Arrenga Capital said.