Going Public

A November Initial Public Offering will see medical services giant Apollo Hospitals list on the main board of the Colombo Stock Exchange.
Underwriters and managers to the issue, Hatton National Bank Limited (HNB) told Lanka Business Online that the Apollo IPO would open on November 8, with the listing scheduled for November 20.rn

rnThe IPO will see 20.5 million Rs. 10.00 shares or 13 per cent of the hospitals share capital being offered at a premium of Rs. 5.00.rn

rnHospital officials say the issue will raise Rs. 307 million, money that will go towards writing off debt acquired to finance medical equipment purchases and also fund proposed expansions.rn

rnThe main board listing will place Apollo among the top 10 listed companies in terms of share volume.rn

rnHNB officials says this enabled Apollo to list on the main board, despite its very recent beginnings.rn

rnAppolo Hospitals Group Managing Director, Ms. Preetha Reddy told a public gathering that the Hospital was expecting to break even in