People’s Leasing IPO to raise Rs 7 b
People’s Leasing announced yesterday of it’s Rs 7
billion IPO issuing 390 million ordinary shares at Rs 18 per share,
the largest IPO since 2005, at a press conference in Colombo. The
IPO will be open on November 3 and will be considered a unique
opportunity for investors to partner the growth of this aggressively
expanding leasing company.
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Minimum capital rule for insurance supervision
The Insurance Board of Sri Lanka (IBSL) as the
insurance regulator considering the growth in the insurance sector,
international developments and the requests made by the insurance
industry, has taken a decision to transform the rules-based
supervisory system to a risk-based capital model (RBC).
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SriLankan targets return to profitability
SriLankan Airlines Limited has reduced its
losses and is targetting a return to profitability within two years
while driving the transformation of Sri Lanka into a regional hub
for tourism and aviation.
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