The lukewarm response from investors to the company's offer of 120 million shares at 2.50 rupees each was in sharp contrast to previous issues which were oversubscribed on the opening day itself.
P W Corporate Secretarial (Pvt.) Ltd., registrars to the offer, said in a stock exchange filing the initial public offer, which opened on November 28, 2011, has been oversubscribed and closed at 4.30 pm on December 15.
It said they got 813 applications for just over 120 million shares with a total value of 301 million rupees.
Only one application was received with a bank guarantee, for 10,000 shares valued at 25,000 rupees.
The shares are to be listed on the 'Diri Savi' second board of the Colombo stock exchange.
The stock market has been sliding in recent weeks after hitting record highs for two successive years following the end of the island's 30-year ethnic war in May 2009.http://www.lankabusinessonline.com/fullstory.php?nid=525380721