Over 502 million ordinary voting shares of Jetwing Symphony Ltd. will debut on the Colombo Stock Exchange today.
The share under the security code JETS-N-0000 will be listed on the secondary Diri Savi Board.
Jetwing Symphony is the first initial public offering to be traded on the Colombo bourse for the New Year.
Jetwing Symphony IPO, which offered 50.2million shares to raise between Rs.753 million to Rs.904 million was oversubscribed on the opening day.
The IPO received 346 applications for a total of 50.79 million shares (i.e. Rs.788 million) at an average bid price of Rs.15.50 share.
There were two applications for 28.4 million shares totaling Rs.452 million.
Funds raised from the IPO will go towards adding a property in Kandy— Jetwing Kandy Gallery—and towards rebalancing the overall gearing mix in some of its properties.