The shares of WindForce Ltd (CODE: WIND.N0000) commenced trading on the Colombo Stock Exchange (CSE) Thursday (22). The shares have been listed on the Main Board of the CSE under the ‘Utilities’ sector. The occasion was marked with a special Bell Ringing Ceremony hosted by the CSE.
The listing follows a remarkable Initial Public Offering (IPO) by the company, through which it raised Rs. 3.2 billion through a share issue of 202.6 million at an issue price of Rs.16.00 each. The issue set a robust cornerstone with an oversubscription of approximately 08 times within the first day of its offer. The IPO was recorded as the largest capital raising since 2011.
Founder Chairman Mr. Janak Hirdaramani, Chairman Mr.Ranil Pathirana, Vice Chairman Mr. Asgi Akbarally, Managing Director Mr. Manjula Perera, Director Mr. Moiz Najmudeen represented WindForce Ltd at the ceremony. The CSE was represented by Chairman Mr. Dumith Fernando, Director Mr. Jayantha Fernando, Director Mr.Suren De Silva and CEO Mr. Rajeeva Bandaranaike. Director and Chief Operating Officer Mr. Zakir Mohamedally represented CT CLSA Holdings Limited and Managing Director, Global Markets & Investment Banking Mr. Deshan Pushparajah represented CAL at the event.
CSE Chairman Mr. Dumith Fernando speaking at the ceremony congratulated the Board and Management at WindForce Ltd on a successful listing and added “When I think about the impact that this company is having in terms of its renewable energy strategy, it’s quite significant that we are having this event on Earth Day, which fits very well with the company’s purpose. It is one of our main goals to encourage more companies like this, large and small to join CSE in raising capital. It should be noted that, the renewed and streamlined IPO approval process ensured that the entire process of the approval was completed within a period of three weeks. This is a testament to all the work that we had prepared early in the year to make the process easier for companies. We wish the best in WindForce’s strategic plans, growth of the company and their post listing stock performance.”
WindForce Ltd Chairman Mr.Ranil Pathirana speaking at the event remarked “WindForce’s journey started approximately 12 years ago, and we have had a remarkable journey. Pioneering in wind energy, WindForce has expanded to Hydro and the Solar forms of energy as well. Today is earth day, for WindForce every day is an earth day. We are playing this role and we will continue to play this role in the future, as we support the world moving towards clean energy and our government policy to achieve a larger percentage of power generation from renewable energy by 2030. On behalf of WindForce I wish to thank CSE for expediting and supporting the listing process. WindForce is confident in becoming a truly global clean energy power company and we hope that the company can play a significant role on the future development and growth of Sri Lanka’s Capital Market”