Exterminators IPO opens today

Exterminators Limited, a leading pest management and environmental enhancement technology company’s IPO will open today. The company will mark a milestone by becoming the first pest control company in South Asia and among the few in the world to be listed on a stock exchange. The offer is managed by Atarah Capital Partners. Exterminators Limited offers 20% of the stake via the ‘Initial Public Offering’ (IPO) to raise Rs.60 million by offering 10,000,000 Ordinary Voting shares at a price of LKR 6/= per share.

The funds raised through the IPO will be utilized to expand the company’s branch network by setting up three branches in 2022, build capacity by investing on novel equipment/technology and improve the vehicle fleet in the existing branches in Colombo and Kandy. The company plans to set up a 24×7 customer care and retail center to market internationally renowned energy saving, non-chemical pest management, health and safety brands. The funds will also be utilized to expand local manufacturing by further investing in ‘Made in Sri Lanka’ products to contribute mitigating the outflow of foreign exchange from the country.

Exterminators also intends to setup pest control business in the Maldives & UAE in 2022 and Seychelles and Botswana in 2023.

For more details, the prospectus is viewable at www.exterminators.lk