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Mon, 30 March 2015 01:04:55
Sri Lanka tea broker in IPO
22 Jan, 2010 11:44:42
Jan 22, 2010 (LBO) - Ceylon Tea Brokers, a dedicated tea brokering firm is going for a second board listing in February to raise 28 million rupees from the public by selling down 12 percent of the firm.

The Colombo Stock Exchange said it had approved the sale of 14 million shares through subscription at two rupees each. The firm would be listed on the 'Diri Savi' second board of the exchange.

Ceylon Tea Brokers is 96 percent controlled by Capital Alliance Holdings, which is involved in or has units specializing stock brokering, structuring and trading in corporate debt and dealing in government securities.

"We want to show that small companies can easily access capital markets through the Diri Savi board," managing director of Capital Alliance Holdings Ajith Fernando said.

"Small companies should come to the capital markets. There is enough money provided you have proper corporate governance."

Capital Alliance Holdings owns about 96 percent of the firm.

The stock exchange said offer documents would be made available on February 03 and the subscription list would open on February 16.

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