Remember in first place you didn’t mention 100% employee allocation under non retail category and suddenly thought of sending an errata when some have already applied for the IPO without knowing the information. So speak to a non retail category investor who applied for a quantity and understand how they feel about you IPO right now.
We also think employees are integral part of a service organization but remember you allocated one of the highest employees percentages in IPO history of Sri Lanka and guess what, CAL surprisingly missed it in your own prospects. While committing this kind of severe mistakes, do you still plan to canvass CAL as one of the best managers for other clients IPOs?
Further if you wish you to empower your employees as shareholders, do you think by allocating a mammoth amount and facilitating them to offload the quantities at the very first day will fulfill your desired objective? If u were so keen about making them empowered you could have done it at any day from the date of the inception and how sure are you that your employees will remain as shareholders in the books after one week from the trading?
If u think you can simply get away by highlighting the zero allocation to CEO and BOD, we challenge you to disclose the allotted percentage the IPO to your top 10 employees.
Knowing the past track records of CAL including the previously overpriced JAT IPO, we wont be surprised to see top 10 employees allocation even exceeds the total unit trusts allocation of 10% of the issue.
Fixed the blunder you all did at least now by locking the employee allocations. Damage has been done and you showed the county that what kind of organization you are and how ethics have been neglected in all occasions throughout this IPO process.
Please share this to create the awareness..!!
Last edited by TRUECALLER on Sun Dec 12, 2021 3:39 am; edited 1 time in total (Reason for editing : Added a poll)