The Initial Public Offering (IPO) of LOLC General Insurance Limited, through an Offer for Sale of 120,000,000 Ordinary Voting Sharesat a price of Rs. 7.90 per Share, which opened today (16thDecember 2021) was oversubscribed on the initial day itself.
The IPO by LOLC General Insurance Limited received applications for over the IPO value of Rs. 948 Mn and, as such, the issue was closed at 4.30 PM on16th December 2021.
LOLC General Insurance Limited is the 12th Equity IPO at CSE in 2021. It should be noted that all the equity IPOs held in 2021 comprising of Windforce Ltd, Chrissworld Ltd, Prime Lands Residencies Ltd, JAT Holdings Ltd, Ex-Pack Corrugated Cartons Ltd, Lanka Credit and Business Finance Ltd, Sarvodaya Development Finance Ltd, Capital Alliance Ltd, hSenid Business Solutions Limited, First Capital Treasuries PLC, and Myland Developments Limited were oversubscribed on the opening day itself.