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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