HVA Foods IPO fully subscribed
Healthy investor confidence:
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
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
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