Ex-pack Corrugated Cartons Limited Public Share Issue oversubscribed on the opening day
Ex-pack Corrugated Cartons Limited Initial Public Offering (IPO) of 83,333,333 Ordinary Voting Shares by way of an offer for subscription at the Colombo Stock Exchange (CSE) which opened today (22nd October 2021) was oversubscribed on the initial day itself.
The above IPO by Ex-pack Corrugated Cartons Limited, issued at a price of Rs 8.40 received applications over the approximate IPO value of Rs. 700 Mn. Accordingly, the issue will be closed at 4.30 PM today (22nd October 2021). Commenting on the development, the CEO of CSE Mr. Rajeeva Bandaranaike remarked, “We are pleased to welcome Ex-pack Corrugated Cartons Limited with a successful IPO oversubscribed on the opening day itself. Ex-pack enters the CSE as the 6th equity listing for the year 2021 on the CSE. 2021 has been a significant year for the CSE as the capital market has facilitated over Rs.100 Bn of capital raised so far with 19 new listings. It is important to note that all the 05 equity IPOs held in 2021 was oversubscribed on the opening day itself. We are confident of this growth trajectory in establishing the CSE as a facilitator of capital and we welcome businesses of diverse scales and industries to explore the capital raising opportunities made available at CSE”
