Sri Lanka BPPL Holdings IPO oversubscribed

Mar 08, 2017 (LBO) –  Sri Lanka’s brush exporter BPPL Holdings said its initial public offer of 30.68 million ordinary shares at 12 rupees each was oversubscribed the opening day.

The company said in a stock exchange filling that therefore they were closing the offer, Tuesday.

The company also known as Beira group said Hirdramani Investment Holdings (Pvt) Ltd, which owns a 23.4 percent stake, sold 30.6 million shares to raise 368.2 million rupees.

The basis of allotment will be notified in due course, it said.