CIFL marks successful day in IPO
Officially challenging the trend of the recently traded IPOs, Central
Investments & Finance Limited marked a successful first day in trading
starting at Rs 10.20 and reaching a high of Rs 12.60 and closing at Rs
12.10 yesterday.
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CIFL CEO Jayanth Wickremeratne commenced the first day
trading at the Colombo Stock Exchange. COO P M Thillekeratne,
Directors - Lakshman Rupasinghe, Head of Micro Finance S B
Kondadeniya, Deputy Chairman Shirley Perera and the
representatives of the Kenanga Investment Corporation Nilupa
Perera and Manosh Kulasena look on. |
At the end of the day, CIFL share price gained 21 percent finishing
in the top five gainers list for the day.
CIFL, after ensuring a marginally oversubscribed IPO midst tough
market conditions in July reached yet another milestone in the history
of the company starting the first trading day to the satisfaction of
investors being the first IPO to trade on a positive in the recent past.
"CIFL in its 45 years is approaching a landmark achievement and our
greater concentration will be on the Micro, Small and Medium Enterprises
sector providing excellent service in the most caring and responsive
manner.
We are very confident in our strategic objectives in our core
business areas of Micro Finance, Leasing and Hire purchase and Real
Estate to take the company into greater heights" CEO Jayanth
Wickremeratne said. He said plans are under way to expand the
micro-sector portfolios to Rs 630 million in the next two years. CIFL
has diversified its conventional products to facilitate needs of the
sectors it envisages to harness in. "I believe our performance
revalidates the investor confidence that is being placed upon us and we
wish to thank our partners, employees and the managers to the Issue-Kenanga
Corporation for being with us throughout the IPO" the CEO stated.
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