Vallibel Power IPO oversubscribed

PO: The Initial Public Offering of Vallibel Power Erathna Ltd., launched yesterday was oversubscribed by one time.

he IPO consisted of 50 million new ordinary shares of Rs. 1 each at the offer subscription price of Rs. 8 each.

he prospective investors in the offering would be entitled to a bonus issue of two shares for every one held.

allibel Power Erathna is the owner, developer and operator of the Erathna Hydro Power project owned by Dhammika Perera?s diverse corporate group. (CK)