Capital Alliance IPO oversubscribed on opening day | Daily News

Capital Alliance IPO oversubscribed on opening day

The Initial Public Offering (IPO) of Capital Alliance Limited (CALT) which opened on November 25 was oversubscribed on the same day.

The CALT IPO, which offered 41,177,236 ordinary shares for a 12.5% stake to the public, priced at Rs 10 per share, opened at the Colombo Stock Exchange (CSE) amidst high anticipation and significant traction amongst investors.

CALT extended its gratitude to the investors while acknowledging that the successful oversubscription of Rs. 412 mn IPO is a result of the investor confidence in both the organization and the prospects presented.

The IPO price per share provided a discount of 18.64% to incoming investors compared to the Rs.12.29 price per share derived by the Independent Valuer, Ernst and Young Transaction Advisory Services.

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