Mackwoods Energy in Rs 350 m IPO

Sanjeevi JAYASURIYA

Mackwoods Energy Ltd, a member of the Mackwoods Group, yesterday formally launched its Initial Public Offering of Rs 350 m, inviting the public to share the 170 year heritage of the Mackwoods Group, whilst contributing to the national development.

Through this IPO, Mackwoods Energy is offering 25 million ordinary voting shares to the public at Rs 14 each which will amount to a 25% stake in the company, post IPO. The issue will open on March 22 and minimum subscription amount would be Rs 7,000 or 500 shares .Financial Advisors and Managers to the issue are NDB Investment Bank and the registrars , SSP Corporate Services Ltd.

Speaking at the ceremony to launch the IPO, Co- Chairman Mackwoods Group and Mackwoods Energy, Nirmali Samaratunga said that recognizing the power sector as an essential driver of socio-economic development of the country, the Mackwoods Group has strategically focused on this sector through its subsidiary Mackwoods Energy Ltd, as a priority.