HNB Finance IPO oversubscribed | Daily News


HNB Finance IPO oversubscribed

HNB FINANCE Limited, a licensed finance company announced that its Initial Public Offering via Offer for Sale on the Colombo Stock Exchange (IPO) was oversubscribed.

10 million Ordinary Voting Shares at Rs. 5.70 each were offered through the IPO and the Company is also listing Ordinary Non-Voting Shares at Rs. 4.20 per share by way of an Introduction in the Colombo Stock Exchange.

“As anticipated, the offer was oversubscribed, signaling the trust that investors place on us.

This positive response also indicates the country’s current investor friendly environment. We expect to ensure attractive returns to our investors, perhaps even exceeding their expectations,” commented Chaminda Prabhath – Managing Director/CEO – HNB Finance Limited.

Commenting on the success of the offer, Ray Abeywardena, the Managing Director of Acuity Partners (Pvt) Limited who acted as Managers and Financial Advisors to the offer stated “we are extremely pleased with a near 32% oversubscription on the opening day of this highly anticipated IPO which incidentally is the first IPO in two years. ”.

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