Textured Jersey to raise Rs 1.2 b

The Colombo Stock Exchange has approved an application for listing of ordinary voting shares of Textured Jersey Lanka in the main board yesterday.

The CSE making an announcement said a total of 80 million ordinary voting shares will be on offer for subscription at a price of Rs 15 per share and subscription list will open on July 7.

The joint managers to the offer will be Acuity Partners and CT Capital.

Registrars to the issue is SSP Corporate Service Private Limited.

This issue is expected to raise Rs 1.2 billion, with around 30 percent of Textured Jersey to be in the hands of the public post-listing on the CSE.

The listing will enable Textured Jersey to take advantage of potential growth opportunities in Sri Lanka and the South Asian region, the company said.

Textured Jersey is one of Sri Lanka’s most sophisticated production facilities, manufacturing knitted fabrics for the intimate apparel and sportswear industries.

Textured Jersey Lanka is a joint venture between Hong Kong listed Pacific Textiles Holdings and Brandix Lanka.

(AS)