Vallibel one Limited issued 21,311,870 Ordinary voting shares as Initial Public Offerings at the price of Rs.25 each.
Amount to be rise
| No of shares | Value of share | Total |
| 21,311,870 | LKR 25.00 | LKR 532,796,750.00 |
Objective of IPO
The prime Objective of this share issue is to Construct a 300+ Roomed Five Star hotel in Negombo. The project is carried out by the Greener water Ltd; a fully owned Subsidiary of the company.
The cost of project is estimated at US$ 50 Million (LKR 5,600 Million). The land was purchased by the Greener Water Ltd at a cost of LKR 268.06 Million.
The total project will be funded as,
| Method of Fund rise | Investment in Millions |
| Private Placement Investment: | 2,467.20 |
| Debt: | 2,600.00 |
| Initial Public Offerings: | 532.80 |
| Total: | 5,600.00 |
Minimum Subscriptions
The company Request to be Minimum Subscription per Application is 100 Shares (LKR 2,500) and the Application exceeding the minimum subscription should be in multiples of 100 Shares.
Opening date and Closing date of IPO
The Vallibel one IPO will open for issue on 21st June 2011 and will be close on 8th July 2011 or on the date on which the issue is oversubscribed.
Banker to the offering
The Vallibel one appoints Pan Asia Banking Corporation PLC as a Banker to the Offerings.
Basis of Allotments
| Types | % of the offered Share |
| Employees | 10% |
| Unit Trust Investors | 10% |
| Retail Individual Investors | 40% |
| Non Retail Investors | 40% |
Prospectus and Applications
The Vallibel one published its Prospectus, Applications and the Article of association in Colombo Stock Exchange website: www.cse.lk
The links are as follows,
Prospectus: http://www.cse.lk/270808/pdf/07_06_2011_Pros.pdf
Application Form: http://www.cse.lk/270808/pdf/07_06_2011_App.pdf
Article of Associations: http://www.cse.lk/270808/pdf/07_06_2011_Arti.pdf
Source:
http://synergyy.com/2011/06/vallibel-one-limited-offer-for-subscription/
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