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Thursday, 13 January 2011

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HVA Foods IPO fully subscribed

Healthy investor confidence:

Rohan Fernando

The Initial Public Offering (IPO) of 19,928,598 million shares valued at Rs 16 per share of HVA Foods Limited has been oversubscribed many times. Due to the over subscription, the share issue was closed yesterday.

HVA Foods Limited Chairman Rohan Fernando said the over subscription of the IPO on its first day is an indication of investor confidence on the company and it is encouraging.

The company recently announced its intention to raise Rs 319 million from the IPO of 30 percent of its stake by listing on the Dirisavi Board of the Colombo Stock Exchange (CSE)."People are actively harnessing the benefits of the peace dividend and the emerging economy of the country.

There will be a huge transformation in the company as many projects are to be launched," he said.

"We are humbled and pleased with the investor confidence in the company.

The company hopes that the listing will create a better opportunity for our customers to be a part of a globally recognized Sri Lankan company and to share the wealth," Fernando said.

As the IPO is oversubscribed, the company expects to commence trading early February.

 

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