Financial Times

Lanka IOC basis of allotment
The following is the basis of the LIOC share issue that has drawn criticism from some quarters. The share issue was oversubscribed many times over.

(1) Retail investors up to 1,000 shares - 100% of shares applied.

(2) Retail investors from 1,100 shares to 10,000 shares - 1,000 shares as the base plus 20% of the shares applied over and above 1,000 shares rounded to the nearest 100 shares.

(3) Application for shares between 10,100 shares and 100,000 - 2,800 shares as the base plus 10% of the shares applied over and above 10,000 shares rounded to the nearest 100 shares subject to a maximum of 10,000 shares.

(4) Application for shares between 100,100 and 1,000,000 - 10,000 shares as the base plus 10% of the shares applied over and above 100,000 shares rounded to the nearest 100 shares subject to a maximum of 50,000 shares.

(5) Application for shares from 1,000,100 and above forwarded by insurance funds, unit trusts, and employee benefit funds. This also includes applications from commercial banks, development banks, and licensed specialised banks. - 10% of the shares applied rounded to the nearest 100 shares subject to a maximum of 2,000,000 shares.

(6) Application for shares from 1,000,100 and above from domestic individuals and domestic institutions not included under (5) above. - 10% of the shares applied rounded to the nearest 100 shares subject to a maximum of 200,000 shares.

(7) Foreign investors - (i) Large scale - 22.75% of the shares applied rounded to the nearest 100 shares subject to a maximum of 2,000,000 shares. (ii) Others - 10% of the shares applied rounded to the nearest 100 shares subject to a maximum of 200,000 shares.

(8) Employees of Lanka IOC - 100% of the shares applied up to a limit of 2,000 shares.

(9) Dealers of Lanka IOC - 100% of the shares applied up to a limit of 25,000 shares.

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