Uniwalkers plans IPO; homestore concept

Uniwalkers Pvt Ltd, recently acquired by Softlogic Holdings Pvt Ltd, is considering an initial public offering (IPO) within a year while planning to introduce a new ‘homestore’ concept by April 10th.

“We are planning an IPO within a year and will be focusing on our expansion plans,” Ashok Pathirage, Chairman Softlogic Holdings told The Sunday Times FT. He said that Uniwalkers, whose core business is being the agents for Daihatsu and Panasonic, is launching its first home store in Gampaha on April 10.

“We will have a special name for this large mall concept which will have an entire product portfolio for the home maker,” he explained. He said the second store will be opened in Wattala within two months with more plans to expand in other major towns. Pathirage said the company’s business grew by 300 percent last year after Softlogic acquired it. “It was a loss making company, but we have turned it around with Rs. 1 billion investment,” he added.