About IPO
Union Bank of Colombo Limited published their prospectus last Friday. The Union Bank of Colombo Limited issued 15 Million (15,000,000) ordinary Voting shares at the Price of Rs.25 each. The total amount to rise is Rs. 375 Million.
Minimum subscription and dates of Application
The Union Bank of Colombo Limited announced Minimum subscriptions should be 100 shares (worth of Rs.2, 500) application in excess of the Minimum subscription should be in multiples of 100 shares.
Issue opening date is 24th February 2011 and the closing date is 16th March 2011 or the day on which the issue becomes oversubscribed.
Relevant Parties to the Issue
The Union Bank of Colombo Limited IPO Prospectus can be collected from all the trading members of Colombo Stock Exchange, Union bank of Colombo Limited and its Branches, Hatton National bank PLC and its branches and National Development Bank PLC and its branches.
Objectives of the Issue
The objective of IPO is to comply the regulatory requirement and developing the retails and SME banking and corporate banking with IPO fund.
The Balance funding requirements for disbursements would be financed through public deposits, funds available with UBC and borrowings from other financial institutions.
The IPO will enable to broaden the Public ownerships and brand image.
The Issue
| Category | No of shares to be issue | % |
| Employees of UBC | 1,500,000 | 10% |
| Customer UBC | 2,250,000 | 15% |
| Other investor | 11,250,000 | 75% |
Union Bank of Colombo Limited
Prospectus: http://www.cse.lk/270808/pdf/UB-prospectus.pdf
Application Form: http://www.cse.lk/270808/pdf/UB-application.pdf
Article of Association: http://www.cse.lk/270808/pdf/UB-articles.pdf
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