Share Issue

Nov 03, 2011 (LBO) – A 70 million US dollar initial public offer of shares by Sri Lanka’s People’s Leasing Company was oversubscribed on the opening day Thursday itself and would close in the afternoon, a stock exchange filing said. People’s Leasing Co., the island’s largest leasing company, offered 390 million shares at 18 rupees a share.

PLC is a fully owned unit of state-run People’s Bank and the IPO was expected to attract foreign interest.

Registrars to the issue S S P Corporate Services said the IPO would close by 4.30 pm Thursday and the basis of allotment would be notified to the stock exchange later.