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Fri, 31 October 2014 17:18:43
Sri Lanka leasing IPO gets applications worth Rs9.5bn
09 Nov, 2011 16:38:47
Nov 09, 2011 (LBO) - An initial public offer of shares by Sri Lanka's People's Leasing Company to raise 7.0 billion rupees drew applications with a total value of 9,527 million rupees, a stock exchange filing said.
People's Leasing Co., the island's largest leasing company, offered 390 million shares at 18 rupees a share.

The statement said the IPO drew 26 applications worth 4,869 million rupees with payment made by bank guarantees and 10,459 applications with a value of 4,658 million rupees with payment by bank drafts and cheques.

PLC is a fully owned unit of state-run People's Bank and the IPO, oversubscribed on the opening day, November 03, 2011, was expected to attract foreign interest.
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READER COMMENT(S)
3. Dried up Interest Nov 11
Well said Niro. No one can fool people forever! Future IPOs are going to draw less and less interest since the investment in SL is becoming more of a gamble than taking a calculated risk.
2. Jayantha de Alwis Nov 11
People who have applied for this IPO is guaranteed to lose their money. MY guess is this Rs. 18 share will be traded on first day about Rs. 15 and with in a week's time it will drop to Rs. 12 for sure.
1. Niro Nov 09
Remember the times when IPOS were oversubscribed by 250X. Those days are long gone ...

I guess retail investors have lost interest in 'hyped up' IPOs ...