HNB Finance IPO oversubscribed on opening day

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Feb 17, 2020 (LBO) – HNB Finance Limited’s initial public offering through an offer for sale of 10 million ordinary voting shares at 5.70 rupees per share was successfully oversubscribed on the opening date.

As per the section 4.2.8 of the prospectus and introductory document, applications dispatched by courier or by post to registrars to the offer should reach the registrars no later than 4.30 p.m. local time on the market day immediately following the offer closing date. (i.e. no later than 4.30 p.m. on 18th February 2020).

The IPO has been the first in two years and will entail the listing of 298,200,000 ordinary non-voting shares through an Introduction as well.

Acuity Partners (Pvt) Limited, the Financial Advisor & Manager to the Offer said that they were well pleased with the successful closure of the Offer.