Allocation of shares for First Capital Treasuries IPO concluded

Sri Lanka’s leading non-bank primary dealer, First Capital Treasuries PLC, a subsidiary of First Capital Holdings PLC, saw its Initial Public Offering (IPO) being oversubscribed 4.5 times within hours on its opening day and the offering was closed on the same day, as indicated in the prospectus.

First Capital Treasuries received 1,991 applications amounting to Rs. 1.3 Bn for the 7,695,000 ordinary voting shares that were offered at Rs. 39.00 per share. The allocation of shares was concluded on 15th December.

Managed by the Corporate Finance division of the First Capital Group, the issue was aimed at helping First Capital Treasuries broaden its ownership base and strengthen its brand identity.

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