Singer Finance IPO oversubscribed

The Initial Public Offering by the Singer Finance (Lanka) Limited has been oversubscribed during its first day.

"We are delighted with the confidence placed by the public and quite impressed of the outcome. The IPO has received huge market response and this indicates the confidence of the investors on Singer Group, especially Singer Finance (Lanka) Limited, Singer Sri Lanka Group Chief Executive Officer Asoka Pieris told Daily News Business.

"Overall we are quite happy that the IPO was successful. We obliged the requirement by the Central Bank to list all the finance companies. This is a positive move and we will use funds prudently to serve our customers better," he said. SJ