Expolanka Holdings Limited IPO

Expolanka Holdings Limited IPO

About Expolanka Holdings Limited

The Expolanka Holdings Limited is one of the well branded names in Srilanka, the Expolanka groups involved in various diversified businesses in local and foreign countries.

The Expolanka Groups having 46 companies as business units of its groups.

The Expolanka stared in 1978 as Expolanka (Pvt) Ltd and grow step by step in 2010 it reaches the level of 2500 employee and operate in 24nationalities.

About Expolanka Holdings Limited Initial Public Offerings [IPO]

Expolanka Holdings Limited IPO of 172,000,000 Ordinary Voting shares at Rs.14 per share to raise total funds of Rs.2.408 Billion.

Applications are opening to subscripted:12th May 2011
Closure of subscription:on the day the issue is oversubscribed or 2nd June 2011; whichever is earlier.
 The minimum subscription:1,000 shares [Rs.14, 000] application in excess of 1,000shares should be multiples of 1,000 shares.

 

Allotment structure:

Application categoryNo of shares issued% of IPO Shares issues
Employees             25,800,000.0015%
Retail individual investor             68,800,000.0040%
Unit trusts investor             17,200,000.0010%
Non Retail investor             60,200,000.0035%
Total          172,000,000.00100%

               

Category

Retail individual investor:An application by an individual investor for a maximum of 3,000 shares of the company or value not more than Rs.100, 000.
Non-Retail individual investor:An application for more than 3,000 shares of the company or value more than Rs.100, 000 whichever is higher in value.

Basis of Allotment

If Unit trusts investor category is undersubscribed:First priority given to Retail investors in allotment to undersubscribed shares.
If Retail investor category is undersubscribed:First priority given to Unit trusts investor in allotment to undersubscribed shares.
If Employee category is undersubscribed:First priority given to Non-Retail investors in allotment to undersubscribed shares.
Non-Retail investor category is undersubscribed:First priority given to both Retail and Unit trusts investors in allotment to undersubscribed shares.

 Relevant Parties to the issue

Lead Managers and Financial Advisor to the issue:John Keells Capital
Joint Managers and Financial Advisor to the issue:CT Capital (Pvt) Limited.
Bankers to the issue:National Development Bank PLC
Registrars to the issue:SSP Corporate Service (Pvt) Ltd.
Auditors to the issue:Ernst and Young

 Objective of the Issue

  1. Company will utilize Rs. 908 Million to reduce long term debt outstanding.
  2. Enhance the working capital by Rs.1,000 Million
  3. Utilizing Rs.500 Million to Expand the Exiting Warehouse capacity.

 Number of shares to be listing in CSE

The Expolanka Holdings Limited gets approvals to listing of 1,954,915,000 shares in CSE Main Board.

Prospectus:        http://www.cse.lk/270808/pdf/20_04_2011_EHL_Prospectors.pdf

Application:        http://www.cse.lk/270808/pdf/20_04_2011_EHL_Application_form.pdf

Articles of Association:  http://www.cse.lk/270808/pdf/20_04_2011_EHL_Articles.pdf

Source: Prospectus




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