CSE nod for Laugfs listing

Colombo Stock Exchange (CSE) has approved an application for listing Ordinary Voting shares and Ordinary Non Voting shares of Laugfs Gas Limited, the CSE said yesterday.

Laugfs Holdings Chairman W K H Wegapitiya

Laugfs Gas Limited will raise Rs 2.5 billion through this initial public offering for expanding its gas business.

The company will offer 75 million ordinary voting shares at a price of Rs 23.00 per share and 52 million Ordinary Non Voting shares at a price of Rs 15.00 per share.

The opening of the subscription list will be on November 4. The IPO prospectus is to be delivered by October 14.

The company will invest these funds to expand its market share, the storage and filling capacity and to fast track the road tanker fleet in their LPG business.