Lanka Ventures Chairman Jonathan Alles in company’s annual report 2015/2016 said the company is making efforts to list its subsidiary LVL Energy Fund during the current financial year.
This will be at the Colombo Stock Exchange by way of an initial public offer (IPO) aiming to raise Rs. 900 million. Following the IPO, LEF will have funds in excess of Rs. 1 billion to invest in projects in the energy sector locally and overseas. Meanwhile,in June 2016, LEF raised Rs. 336 million through rights issue of shares issued on the basis of 1 for 10 at an issue price of Rs. 8.00 per share.
The company invested Rs.255 million towards the rights issue and maintained its subsidiary status with 71.8% equity stake in LEF.
This will be at the Colombo Stock Exchange by way of an initial public offer (IPO) aiming to raise Rs. 900 million. Following the IPO, LEF will have funds in excess of Rs. 1 billion to invest in projects in the energy sector locally and overseas. Meanwhile,in June 2016, LEF raised Rs. 336 million through rights issue of shares issued on the basis of 1 for 10 at an issue price of Rs. 8.00 per share.
The company invested Rs.255 million towards the rights issue and maintained its subsidiary status with 71.8% equity stake in LEF.
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