Sri Lanka’s CSE approves Rs.750mn Peoples Insurance IPO  

Nov 23 (LBO) – Sri Lanka’s People’s Insurance, a fully owned subsidiary of People’s Leasing and Finance will be listed on the Colombo Stock Exchange through issuing offer 50 million shares, a statement said.
“Through the Initial Public Offering, People’s Insurance will offer 50 million shares at 15 rupees each with the total value being 750 million rupees,” the CSE said in a stock exchange filling.

The IPO will officially open is on 16 December.

Joint financial advisors for the IPO are NDB Investment Bank Ltd., Acuity Partners Ltd. and People’s Bank’s Investment Banking Unit.