Windforce IPO demonstrates strong appetite of investors says Colombo Stock Exchange

Windforce IPO demonstrates strong appetite of investors says Colombo Stock Exchange

The Colombo Stock Exchange (CSE) has said the success of Windforce Ltd.’s IPO demonstrated strong appetite among investors in Sri Lanka, the CSE has noted in a statement.
The CSE has reportedly stated that the IPO worth Rs. 3.2 billion had attracted applications worth Rs. 25.7 billion, thereby “demonstrating the strong appetite for IPOs among investors in the Sri Lankan stock market”.
CSE has noted that Windforce is scheduled to commence trading on the main board of the CSE during the latter part of April.
“The listing application of the company was approved by the CSE within a record time of three weeks in line with CSE’s recent revamp of the listing process to better serve the funding requirements of companies listing on the stock exchange.
“The initiative has simplified the process, eliminated redundant approval steps, moved away from a dual approval process, reduced documentation and improved the time-to-market for new and follow-on offerings of equity and debt,” CSE has added.

OSL take:

Sri Lanka’s stock market has shown great resilience on the path to returning to normalcy after facing the impact of the global Covid 19 pandemic lockdown. It is a clear indication of the strength and growth of the country’s economy. Sri Lanka’s economy has shown great resilience to external and internal challenges through the years. The island is fast becoming a business hub in the South Asian region given its geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by the country. Foreign businesses/investors could therefore explore business/investment opportunities in Sri Lanka.

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Article Code : VBS/AT/20210407/Z_1

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