Prime Lands Residencies Limited is scheduled to be listed on the Diri Savi Board of the Colombo Stock Exchange(CSE) with effect from 08th June 2021. The company will be listing 937,500,000 Ordinary Voting Shares and will be classified under the Industry Group “Real Estate (6010)”.
Accordingly, the company decided to exercise the option to issue up to another 87,500,000 Ordinary Voting Shares of the Company at Rs. 10.40 per share. Such shares were allocated based on the applications received up to 4.30 p.m. on May 12.
The listing of Prime Lands Residencies Limited is followed after a successful Initial Public Offering (IPO) held on 11th May 2021. The IPO of 100,000,000 shares at Rs. 10.40 per share was oversubscribed on the initial day itself and raised Rs. 1.04 Bn. Accordingly, the company decided to exercise the option to issue up to another 87,500,000 Ordinary Voting Shares of the Company at Rs. 10.40 per Share and raised a total amount of Rs. 1.95 Bn.
By the close of the issue, strong response in terms of applications, was seen with regard to raising the extended issue of 87,500,000 Ordinary Voting Shares, amounting to Rs. 910 mn. All three equity IPOs this year were oversubscribed on the opening day itself.