Listed Homes

Ishara S. Kodikara | AFP | Getty Images Sri Lanka Prime Minister Ranil Wickremesinghe, center, speaks to supporters at the prime minister's official residence in Colombo on December 16, 2018, after he was reappointed as prime minister by Sri Lanka's president, the same man who fired him from the job nearly two months ago.

State housing finance giant HDFC, has sought a quotation on the Colombo Stock Exchange by way of an introduction.
The Attorney Generals Dept. has recommended Housing Development & Finance Corp. or HDFC to get a listing, prior to raising fresh capital.rn

rnA valuation by consultants E&Y two-years ago valued HDFCs Rs. 100 share at Rs. 640.rn

rnHDFCs Act was amended in February, which gave the housing giant a specialised banking licence.rn

rnBut the change over to lquote HDFC Bank is still awaiting Monetary Boards approval.rn

rnHDFC Bank has an issued share capital of Rs. 2 bn, with Rs. 500 mn already paid up.rn

rnOnce listed, HDFC plans to raise around Rs. 650 mn in fresh equity through a private placement.rn

rnThe bank is looking at issuing 6.5 mn shares at a premium and is already talking to a few parties who are keen on investing with them.rn

rnIn the long-term, the bank is looking at raising funds through a public offering.rn

rnMonies raised through the private placement, are likely t