The government has decided to limit Sri Lanka Telecoms public offering to the local market, amidst speculations of an impending snap poll.
Plans to issue Luxembourg traded global depository receipts as part of its public offering to foreign investors has been put off to next year, SLT Chairman, Thilanga Sumathipala told Lanka Business Online in an interview Wednesday.rn
rnThe book building exercise will instead focus on issuing shares to local investors through the Colombo Stock Exchange. rn
rnldblquote We are looking at issuing around 12.5 percent locally during the fourth quarter of this year. Our plan is to eventually reduce the government holding from 61.5 percent to around 40 percent over the next few years,
dblquote he said.rn
rnDFCC Bank will manage the IPO, with Julius & Creasy as legal consultants. UBS Warburg will handle the international marketing aspect.rn
rnThe previous government was expecting around US$ 250 mn from SLTs IPO. The big-ticket sale is a vital for the government to m