Leasing Interest

Nov 09, 2011 (LBO) – An initial public offer of shares by Sri Lanka’s People’s Leasing Company to raise 7.0 billion rupees drew applications with a total value of 9,527 million rupees, a stock exchange filing said. People’s Leasing Co., the island’s largest leasing company, offered 390 million shares at 18 rupees a share.

The statement said the IPO drew 26 applications worth 4,869 million rupees with payment made by bank guarantees and 10,459 applications with a value of 4,658 million rupees with payment by bank drafts and cheques.

PLC is a fully owned unit of state-run People’s Bank and the IPO, oversubscribed on the opening day, November 03, 2011, was expected to attract foreign interest.