22 July 2016 10:10 am
The Initial Public Offering (IPO) of Amana
Takaful Life Limited (ATLL), which opened yesterday was oversubscribed, the company informed the Colombo bourse.
ATLL went public via issuing 50 million ordinary voting shares at a price of Rs.1.50 per share to raise Rs.75 million.
The shares will be listed on the Diri Savi Board of the Colombo Stock Exchange.
ATLL will become the first publicly quoted segregated life insurer in Sri Lanka, following the mandatory segregation of life and general insurance companies on 1st February 2015, in compliance with Insurance Board of Sri Lanka’s (IBSL’s) regulation. ATLL is a fully owned subsidiary of Amana Takaful PLC.