Possibly as the next IPO to hit the bourse, Lucky Lanka plans to issue both voting and non-voting shares. The price of the voting share is likely to be in the range of Rs.5-6 and the non-voting Rs.3-4, Mirror Business learns.
The shares will be listed in the secondary Diri Savi Board of the Colombo Stock Exchange.
The large part of the money raised through the issue is expected to be utilized to settle long and short-term debts and the rest for capacity expansions.
The Corporate Advisory and Capital Market Division of Merchant Bank of Sri Lanka is believed to be acting as the managers and registrars to the issue.
Founded by Lal Keerthi Gunewardena— the present Chairman—with the support of his four sisters, Lucky Lanka today stands as the only yogurt manufacturer with the SLS certification in Sri Lanka.
The business, which began as a household industry in 1991 with a couple of cows, was registered as a limited liability company in 2007 under the name of Lucky Lanka Milk Processing Company Limited.