Expo Lanka IPO on May 12th

Apr 27, Colombo: Expo Lanka Holdings Limited, a leading diversified conglomerate that has a network spanning over 10 countries in Asia, Africa and the Middle East has announced the launch of its much anticipated Initial Public Offering (IPO).

Opening the IPO on May 12th the company will issue 172 million ordinary voting shares at an offer price of 14 rupees, the Company announced at a news conference.

With the addition to the working capital from the IPO, the company expects to expand the existing warehouse capacity to supplement the group’s expansion into the local transport and logistics sector.

John Keells capital, a division of John Keells Holdings Private Limited will act as lead managers and financial advisors to the issue while CT Capital Private Limited will act as joint managers to the issue.

In 2010, the company recorded a gross profit of 4.553 billion rupees.

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