Prime Lands Residencies Limited is scheduled to be listed on the Diri Savi Board of the Colombo Stock Exchange (CSE) with effect from 08th June 2021.
The company will be listing 937,500,000 Ordinary Voting Shares and will be classified under the Industry Group “Real Estate (6010)”.
The listing of Prime Lands Residencies Limited is followed after a successful Initial Public Offering (IPO) held on 11th May 2021.
The IPO of 100,000,000 shares at Rs. 10.40 per share was oversubscribed on the initial day itself and raised Rs. 1.04 Bn. Accordingly, the company decided to exercise the option to issue up to another 87,500,000 Ordinary Voting Shares of the Company at Rs. 10.40 per Share and raised a total amount of Rs. 1.95 Bn.
Prime Lands Residencies opens its IPO on 11th May 2021
Prime Lands Residencies, the condominium property arm of Prime Group, opens its Initial Public Offering today, 11th May 2021. The highly awaited IPO will enable investors to indulge in a plethora of benefits by investing in the real estate sector, a market considered to be a secure and highly lucrative investment even during these testing times.
By investing in the IPO, investors stand to doubly benefit from the growth of both the real estate market and the share market, which has also seen highly positive growth forecasts over the turn of the year – having secured returns after investing in a reputed, reliable Company such as Prime Lands Residencies Limited. The IPO is being offered at a 40% discount, allowing investors to reap a significant capital gain. The company has also indicated that investors are eligible to avail a significant dividend payout of 40% from the profits of the financial year, ending 31st March 2021. Read More