Amana Takaful Life Limited (ATLL), a fully-owned subsidiary of Amana Takaful PLC, has announced an Initial Public Offering (IPO), via an Offer for Sale of LKR 75 million, thereby becoming the first segregated life insurer in Sri Lanka to do so following the mandatory segregation of Life and General insurance companies on 1st February 2015.
Listing on the Diri Savi Board of the Colombo Stock Exchange (CSE), the company is offering 50 million ordinary voting shares at a price of LKR 1.50 per share, which represents a 10% stake in the company.
The issue will open on 21st July 2016 and the Prospectus (which can be referred to for more information on the IPO) and application forms will be available from July 4, 2016.
The minimum subscription has been set at 1,000 shares and multiples thereof.
The Financial Advisor and Manager to the offering is Acuity Partners (Pvt) Limited and Amana Bank is the Banker to the issue.
“This Initial Public Offering, while further strengthening the company, will offer an opportunity for members of the public to become part of Amana Takaful Life’s growth story,” Amana Takaful Life Limited (ATLL), Chairman, Tyeab Akbarally said.
www.dailynews.lk
Listing on the Diri Savi Board of the Colombo Stock Exchange (CSE), the company is offering 50 million ordinary voting shares at a price of LKR 1.50 per share, which represents a 10% stake in the company.
The issue will open on 21st July 2016 and the Prospectus (which can be referred to for more information on the IPO) and application forms will be available from July 4, 2016.
The minimum subscription has been set at 1,000 shares and multiples thereof.
The Financial Advisor and Manager to the offering is Acuity Partners (Pvt) Limited and Amana Bank is the Banker to the issue.
“This Initial Public Offering, while further strengthening the company, will offer an opportunity for members of the public to become part of Amana Takaful Life’s growth story,” Amana Takaful Life Limited (ATLL), Chairman, Tyeab Akbarally said.
www.dailynews.lk
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