WindForce IPO oversubscribed

Renewable energy company, WindForce Limited (WIND) said its Initial Public Offering (IPO) worth Rs.3.2 billion, which opened today on the Colombo Stock Exchange (CSE), was oversubscribed on the opening day.

The company offered 202.6 million shares at an issue price of Rs.16.00 each.

Following the oversubscription, WindForce said the issue would close at 4.30 p.m. today, and the basis of allotment would be notified to the CSE in due course.

WindForce was incorporated in July 2010 to promote and handle all aspects of renewable energy developments in Sri Lanka and overseas. It is a pioneer in wind power generation in Sri Lanka and one of the first players in solar power generation.