LAUGFS IPO attracted the common man

“The LAUGFS IPO attracted the common man and mostly persons who had never participated at an IPO or had any dealings in stocks previously, said LAUGFS Chairman W.K.H. Wegapitiya. LAUGFS IPO, issued to raise Rs. 2.5 billion was over subscribed by 20 times and attracted Rs.42.3 billion. The company offered voting and non- voting shares to raise 22 percent of its equity capital. The company offered Rs. 75 million voting and Rs.52 million non-voting shares on the basis of 80 percent to the public and 10 percent to the employees, dealers and customers under the theme “Share the golden harvest” The number of subscriptions surpassed 64,000, a record in the history of the IPO at CSE, Wegapitiya said.