Listed Homes

Dilshan Wirasekara, Chief Executive Officer of First Capital Treasuries PLC

State housing finance giant HDFC, has sought a quotation on the Colombo Stock Exchange by way of an introduction.
The Attorney Generals Dept. has recommended Housing Development & Finance Corp. or HDFC to get a listing, prior to raising fresh capital.rn

rnA valuation by consultants E&Y two-years ago valued HDFCs Rs. 100 share at Rs. 640.rn

rnHDFCs Act was amended in February, which gave the housing giant a specialised banking licence.rn

rnBut the change over to lquote HDFC Bank is still awaiting Monetary Boards approval.rn

rnHDFC Bank has an issued share capital of Rs. 2 bn, with Rs. 500 mn already paid up.rn

rnOnce listed, HDFC plans to raise around Rs. 650 mn in fresh equity through a private placement.rn

rnThe bank is looking at issuing 6.5 mn shares at a premium and is already talking to a few parties who are keen on investing with them.rn

rnIn the long-term, the bank is looking at raising funds through a public offering.rn

rnMonies raised through the private placement, are likely t