“The company has made a net profit of Rs 37.6 million out of the total revenue of Rs 184.1 million. The company’s total asset value was Rs 1.2 billion based on the 2011 annul report, which was one of the up coming finance companies in the country,” he said. The Navara Capital will manage this introductory offer. Divasa Equity Private Limited owns 51 shares of George Stuart Finance and the earning for a share was Rs 1.67. Under this introductory share offer existing shareholders can sell their shares to new shareholders with reference price of Rs 20 per share.
Sri Lanka’s registered finance companies require to list on the Colombo Stock Exchange and unlisted finance companies required to be merged with other finance companies which required publishing accounts in public. Therefore, most of banks and finance companies are now going for introductory share offers instead of Initial Public Offering.