HNB Finance Limited’s Initial Public Offering (IPO) through an offer for sale of 10 million ordinary voting shares, at Rs.5.70 per share, was successfully oversubscribed on the opening day.
As per the section 4.2.8 of the prospectus and introductory document, the applications dispatched by courier or by post to the registrars to the offer, should reach the registrars no later than 4:30 p.m. local time, on the market day, immediately following the offer closing date (i.e. no later than 4:30 p.m., on February 18, 2020).
The IPO has been the first in two years and will entail the listing of 298,200,000 ordinary non-voting shares through an Introduction as well.
Acuity Partners (Pvt.) Limited, the financial advisor and manager to the offer, said that it was pleased with the successful closure of the offer.