Singer Finance goes for IPO

Singer Finance is issuing 26,666,667 new shares for subscription in its Initial Public Offering (IPO) due to open on December 15. With a share issue price of Rs 15, the total issue is worth about Rs 400 million, bringing the company's total market capitalization to approximately Rs 1.6 billion. Investors can pick up a copy of the prospectus and application form at all stockbrokers, NDB Bank branches, Singer Finance branches and NDB Investment Bank from the December 1.

As a wholly owned subsidiary of Singer (Sri Lanka), the nation's #1 Public Brand, Singer Finance has leveraged the power of its parent company to revolutionize the finance sector.

Launched in 1877, Singer Sri Lanka has helped usher in a better life for Sri Lankans, with industry-best standards of product quality and premium service. The blue chip company has gone from strength to strength in its 133-year history, having opened over 370 retail outlets nationwide, with Singer Plus, Singer Mega, Singer Homes, and Sisil World stores giving customers an unrivalled selection of lifestyle choices.

Singer Finance has scaled the finance industry by providing not only traditional financing products, such as fixed deposits, and vehicle hire purchase and leasing, but also financing options that help customers to purchase Singer Sri Lanka products.

Having introduced the industry's best online, real-time repayment channels which allow customers to make payments at Singer Finance branches or through over 370-strong Singer retail network, the company is renowned for its unbeatable service standards.