Singhe Hospitals IPO oversubscribed

31 March 2015 06:06 am - 0     - {{hitsCtrl.values.hits}}

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Despite concerns of a possible case of undersubscription, the Initial Public Offer (IPO) of Singhe Hospital Limited, a regional hospital located in Ratnapura, was oversubscribed amid some high-net-worth investor interest.  
Merchant Bank of Sri Lanka & Finance PLC acting as the managers and registrars to the issue informed the Colombo Stock Exchange (CSE) that applications for subscription of more than 100 million shares offered had been received as of 8:30 a.m. yesterday and therefore the subscription list would be closed 4:30 p.m.
The hospital company offered 100 million shares at Rs.2.50 to raise funds to retire debt and capex for expansions. The shares are to be soon listed on the secondary Diri Savi Board of the CSE.
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