Ceylon Finance Ltd: People's Insurance Ltd.'s Rs 750 million initial public offering (IPO) has been oversubscribed seven-fold.
Its secretaries yesterday informed the Colombo Stock Exchange (CSE) that the original offer which comprised the issue of 50 million ordinary shares at Rs 15 a share, finally ended up receiving applications for 347,939,900 shares amounting to Rs 5,219,098,500.
The total number of applications received was 2,116; the secretaries further said. (PGA)
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