Monday, 31 March 2014 01:15
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Industry leader Alumex Ltd. will be the latest manufacturing company to debut on the Colobo Stock Exchange (CSE) today.
Following a successful IPO raising Rs. 838 million, Alumex’s 299.3 million shares bearing ALUM-N-0000 security code will be listed on the Diri Savi Board.
The IPO involved 59.9 million Ordinary Voting Shares at Rs. 14 per share. It drew 840 applications requesting 69 million shares worth Rs. 966 million. There was heavy retail interest for the IPO.
A leader in the aluminium extrusions industry, Alumex was the 10th subsidiary of Hayleys Group to be listed in 22 years.
Of the funds raised, Rs. 250 million goes for the company’s expansion and Rs. 588 million to existing major shareholders (via offer for sale of vendor shares). The latter will continue to own 76% post-IPO.
