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Thursday, 8 March 2012

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Access Engineering IPO oversubscribed

Access Engineering Limited announced that its Rs. 500 million IPO has been oversubscribed within a few hours of opening.

As the IPO was oversubscribed, the subscription list closed on March 6, 2012, the official day of opening of the IPO, according to the regulations laid down by the Colombo Stock Exchange. The company issued 20 million ordinary voting shares to the public at Rs. 25 each, amounting to a 2% stake of the company, post IPO.

Chairman of Access Engineering Limited Sumal Perera said, “We were fully confident that the issue would be oversubscribed on the opening day due to the overwhelming response we had from investors.''

 

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