Capital Reach offer for sale oversubscribed

The Capital Reach Leasing Ltd Offer for Sale was oversubscribed on the third market day despite difficult market conditions. The offer closed at 4.30 p.m on the December 11. Investors included corporates and Individuals with a significant interest from the outstations as well.

This clearly is an indication of the presence of investors looking for intrinsic value and is definitely an encouragement to other companies listing their shares.

Capital Reach Leasing Ltd (CRLL), is a specialised leasing Company and a Registered Finance Company having obtained the licence as a Registered Finance Company in February 2007.

The Offer for Sale was of a portion of the Holding Company’s shares in CRLL. The success of the Offer for Sale is certain to boost market sentiments.

The shares will now be listed on the second board of the Colombo Stock Exchange after all formalities are complied with.

The company projected the investment as a medium term investment and not as an investment for short term gains.

The high growth rates achieved in the last three years supported by excellent asset quality and low gearing attracted many investors.

The Board of Directors of CRLL comprise Chairman Mayura Fernando, Managing Director Nalin Wijekoon, and Directors Daya Muthukumarana, Ranjith de Silva, C Ramachandra, B.H.S. Jayawardena, and N. A. Fernando.