Beira Group IPO oversubscribed

8 March 2017 09:53 am - 0     - {{hitsCtrl.values.hits}}

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Brush maker BPPL Holdings, which is also known as Beira Group, yesterday saw its initial public offering (IPO) getting oversubscribed on the opening day.
A stock exchange filing said the share issue received applications worth over Rs.368.2 million.BPPL Holdings offered 30.69 million shares for a consideration of Rs.12 per share with one of the group’s three main shareholders, Hirdaramani Investment Holdings (Pvt.) Ltd, divesting 10 percent of the shares for the IPO, as part of its long-term exit strategy. 

The company has received approval from the Colombo Stock Exchange to list the shares in the secondary Diri Savi Board. 

 

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