Counting Votes

Applications counted by 4.30 on the opening day on Thursday, accounted for well over 50 % of the Sri Lanka Telecom Initial Public Offering (IPO), with a number of applications for large stakes yet to be processed.
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rnOfficials close to the issue estimated that over 15,000 applications had been received by the end of Thursday, while more was expected from designated collection points. rn

rnIn a statement SLT quote s PR officials confirmed that over 7,500 applications were processed by late afternoon, subscriptions adding up to Rs. 1.7 billion. rn

rnDFCC Bank, the managers to the issue say, many subscriptions for large parcels were yet to be processed. rn

rnCounting is expected to continue overnight, with a formal announcement expected by Friday. rn

rnAnalysts say the issue could officially close tomorrow, oversubscribed, but by how much is uncertain. rn

rnMeanwhile, sources say a notable number of applications had flowed in from the north and east provinces, rn

rnOfficials say they are overwhel

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