The statement said HPFL performed well on its debut despite the current slowdown in the stock market
It was the mostly traded share of the day and at the day’s closure, HPFL’s market capitalization stood at over 1.7 billion rupees, or 0.08 percent of the total market capitalization.
The shares were listed on the Main Board of the Colombo Stock Exchange.
The company's IPO of 35 million shares was oversubscribed by 57 times on the opening day, the statement said.
The response "bears testimony to the future potential of the mini-hydro power sector, as the most environmental friendly non-conventional renewable energy source for power generating available to cater to growing electrification needs."