The Vallibel Finance Initial Public Offer (IPO) was closed on the opening day itself this week due to an overwhelming investor response which saw the issue being oversubscribed by many times, the company said.
It said the company’s entry into the public domain received an enthusiastic response to the initial offering on its first day, now going on the main board of the Colombo Stock Exchange.
“We are overwhelmed by the investor confidence. An oversubscription by the first day speaks volumes of the vast strides we have made in such a short time,” said Jayantha Rangamuwa, Managing Director of Vallibel Finance. He said that the company would now build on the investor confidence so that shareholders as well as customers may enjoy greater dividends.
The Vallibel Finance IPO opened to the public on March 31 and closed on the same day due to the oversubscription. |
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