Introduction
People’s Leasing Co Ltd is another Initial Public Offerings (IPO) Srilanka Stock Market; the People’s Leasing Co Ltd is one of the strong fundamental companies within 6 Company of the PLC Group.
Vision of PLC Group
“To become legendary in the financial Service scene as a provider of customer friendly, creative and innovative total solutions”
Mission of PLC Group
“To provide dedicated value added customer service to accomplish organizational service excellence whilst maintaining a sustainable competitive advantage”
About People’s Leasing Co Ltd
The People’s Leasing Co Ltd is incorporated in 1995, to the principle business activities of Provision of Finance Leasing, Operating leasing, Hire Purchase Facilities, Asset Financing and Term Loans.
The company facilitates their services to the island wide with the 37 Branches and 121 Window Offices.
People’s Leasing Co at Glance
| Number of Ordinary Voting Shares to be issue: | 390,000,040 |
| Share Issue price: | Rs.18.00 |
| Amount to be raised: | Rs. 7,020,000,720.00 |
| Minimum Subscription: | 1000 Shares (Rs. 18,000.00) |
| Application in Excess of the minimum subscription should be in multiples of 100 shares. | |
| Issue Opening Date: | Thursday, November 03, 2011 |
| Issue Closing Date: | Wednesday, November 23, 2011 |
| Or the day, on which the issue becomes oversubscribed, whichever is earlier | |
| Earlier Closing Date: | Thursday, November 03, 2011 |
| CSE Listing: | to be listed on the Main Board of CSE |
| Shares Issue to Public: | 25% of the issued and paid-up Ordinary shares. |
| No of shares to be list in CSE: | 1,560,000,160 |
People’s Leasing Co Ltd Initial Public Offerings (IPO) Objectives
The Primary objective of the IPO is to Comply with the regulatory requirement of the monetary board of CBAL. In addition to increase in stated capital would improve its debt to equity position.
Share Allotment Basis
| Category | Percentage of Issue% |
| Employee Category |
10.00% |
| Retail Individual Investor Category |
22.50% |
| Unit Trust Investor Category |
10.00% |
| Non Retail Investor Category |
27.50% |
| Identified Investor Category |
30.00% |
| Total |
100.00% |
Bankers of the IPO Issues:
Sampath Bank PLC
People’s Bank
National Development Bank PLC
Nations Trust Bank PLC
People’s Leasing Co Ltd Prospectus and Application form
The Interested Investors can obtain the Prospectus from the relevant Bankers of the Issue and Colombo Stock Exchange website.
Prospectus: http://www.cse.lk/270808/pdf/5_10_2011_Peoples_Pros.pdf
Application: http://www.cse.lk/270808/pdf/5_10_2011_Peoples_App.pdf
Article of Association: http://www.cse.lk/270808/pdf/5_10_2011_Peoples_Arti.pdf
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