RIL to raise Rs 960M from IPO

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By 2017-03-12

The Colombo Stock Exchange has approved RIL Property limited, a well known commercial office space business, to list 120 million ordinary voting shares.

The company will launch its IPO on 4 April 2017, and offer 120 million ordinary shares at Rs 8 per share to raise Rs 960 million.
According to RIL Property Limited, the funds raised through the IPO would be invested in its fully owned subsidiary, Foodbuzz (Pvt) Ltd, which operates the well-known BreadTalk franchise in Colombo.
Commercial Bank of Ceylon and NDB Investment Bank (NDBIB) have been appointed as Lead Managers and Joint Managers respectively for the IPO.

The prospectus for the IPO is expected to be circulated by 16 March 2017.

(MA)

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