“Immediately after the completion of the sell down, the company hopes to make and application to the Colombo Stock Exchange seeking a direct listing/ Introduction,” Ray Abeywardena, Group CEO of Acuity told Mirror Business.
“Since this is a sell down by present owners of the company, and there is no need for the firm to wait for one year to enter the market, as in the case of a private placement,” he pointed out.
Abeywardena also said, already a number of inquires have been made about the sell down by prospective investors, and they are hoping to close the offer end of September.
Dhammika Perera-controlled Vallibel One and Royal Ceramics recently inked a deal to fully acquire Lewis Brown Limited, the holding company of Delmege Forsythe, a company which dates back to the colonial era. The deal was done at a whopping Rs.3.1 billion.