Following the debut of Prime
Lands Residencies’ Initial Public Offering (IPO) yesterday (11), the company’s
oversubscription forecasts proved to be true as the initial 100 million shares
were purchased in record time. The Board of Directors have decided to exercise
the option to issue up to a maximum of a further 87.5 million shares as set out
in the Prospectus. In line with this the Issue will be closing at 4.30pm today
(12 May 2021) and application forms will be accepted until such time.
These investors stand a dual
benefit from the growth of both the real estate market, and the share market,
which has also seen highly positive growth forecasts over the turn of the year
Prime Lands Residencies Limited the condominium property arm of the of real estate artistry in Sri Lanka, Prime Group, recently debuted its Initial Public Offering (IPO) Proposition.
Through the past 25 years of the Prime Group journey, this feat is certainly a remarkable milestone for both the company and the real estate industry of Sri Lanka as a whole.
The company has extended an
invitation to subscribe for 100,000,000 Ordinary Shares at an Issue Price of
LKR 10.40 per Share which is payable in full on application. The company has
also facilitated an option to subscribe for a further 87,500,000 Shares in the
event of an oversubscription of the initial 100,000,000 shares.
Prime Lands Residencies Limited debuts IPO
May, 4, 2021
Prime Lands Residencies Limited the condominium property arm of the maestro of real estate artistry in Sri Lanka, Prime Group, recently debuted its Initial Public Offering (IPO) Proposition. Through the past 25 years of the Prime Group journey, this feat is certainly a remarkable milestone for both the company and the real estate industry of Sri Lanka as a whole.
The company has extended an invitation to subscribe for 100,000,000 Ordinary Shares at an Issue Price of LKR 10.40 per Share which is payable in full on application. The company has also facilitated an option to subscribe for a further 87,500,000 Shares in the event of an oversubscription of the initial 100,000,000 shares.