Public to get a taste of Munchee

Ceylon Biscuits Ltd, makers of Munchee, plans to make an initial public offering (IPO) of equity shares.

“That’s a board decision,” M. P. Wickramasingha, Chairman, Ceylon Biscuits Ltd said earlier this week during a public lecture.

He later told The Sunday Times FT that the IPO would hopefully take place this year, “if nothing (adverse) happens to the stock market.”

The company currently has a 400 million rupee plant in India making and selling biscuits and is in the third slot in the Indian confectionary race behind market leaders Britannia and Parle.

In Sri Lanka, Ceylon Biscuits controls around 54 percent of Sri Lanka's confectionary market.