The Textured Jersey Lanka Limited published their Prospectus, Applications and the Articles of Associations on Colombo Stock Exchange Website.
The Textured Jersey Lanka Limited is offer for subscribed 80 Million Ordinary Voting shares at Rs.15.00 Each.
Textured Jersey Lanka Limited IPO Objectives
The Textured Jersey Lanka Limited IPO is plan to raise Rs.1.20 Billion and the following Objectives as per Prospectus
- Construct Modern Production Facility Rs.344 Million
- Improvement of Production Facilities Rs.1 Billion
- Environmentally Friendly Manufacturing Facility Rs.82 Million
The company expects to constructs a modern Productions facility at a cost of Rs.344 Million (US$3.20 Million). The facility will be a line with the international Accepting Quality standards.
The Company expected to utilize to purchase Knitting Machines, Preparation machines, dyeing and finishing machines and improve the infrastructure of the Facility house.
The company expects to invest Rs.82 Million on the environmental friendly procedures of the infrastructure. This will be utilizing for a water treatment plant of the new production Facility.
IPO Opening and closing date
The Textured Jersey Lanka Limited IPO will be open on 7th July 2011 will close on 27th July or on the date on which is oversubscribed, whichever date is earlier.
The Minimum subscriptions will be 100 shares (Rs.1, 500) and the excess should be multiply of 100 shares.
Banks of the IPO offers
The Textured Jersey Lanka Limited IPO is will be done by the co banks of Hatton National bank PLC (HNB) and The Hongkong and Shanghai Banking Corporation Limited (HSBC).
IPO and total Number of Shares
The Textured Jersey Lanka Limited is issued for IPO 12.21% of the issued paid-up Ordinary shares. An Application has made to the CSE for permission to deal 655,002,440 Ordinary Voting shares to list on the Main Board of CSE.
The 80 Million shares will be allotted as following,
|Category||% Of IPO shares|
|Employees||10% of the Shares|
|Unit Trust Investors||10% of the Shares|
|Retail Individual Investor||40% of the Shares|
|Non Retail Individual Investor||40% of the Shares|
Prospectus, Applications and Articles of Associations of Textured Jersey Lanka Limited
|Articles of Associations:||http://www.cse.lk/270808/pdf/22_06_2011_TJLL_Arti.pdf|