Co-Operative Insurance Initial Public Offering oversubscribed

The initial public offering (IPO) of Co-Operative Insurance Company Limited, through an offer for subscription of 166,750,000 ordinary voting shares, at a price of Rs.3.60 per share, which opened yesterday, was oversubscribed on the initial day itself. 

The IPO by Co-Operative Insurance Company Limited received applications for over the IPO value of Rs.600.3 million and as such, the issue was closed at 4:30 
p.m. yesterday.