Safe debut for TIFL

Friday, 28 October 2011 03:50 - - {{hitsCtrl.values.hits}}

Trade Finance and Investments Ltd. yesterday had a solid debut on the Colombo Stock Exchange.

The company saw 2.3 million of its shares traded on the Diri Savi Board hitting a high of Rs. 26 and a low of Rs. 19 before closing at Rs. 20, the same price at which shares were offered at the IPO.

The share opened trading at Rs. 23. Quantity traded amounted to 38% of the offered amount via IPO and 4% of the number of shares in issue.

The company made available six million shares at Rs. 20 each in its Rs. 120 million worth IPO, which was oversubscribed by near two times.