LOLC General Insurance IPO opens on December 16

LOLC General Insurance Limited has announced an Initial Public Offering (IPO) which will open on the 16th of December 2021. 120,000,000 shares held by LOLC Asset Holdings Limited will be offered for sale at a price of LKR7.90 per share.

The offer size will amount to LKR 948,000,000. Post IPO LOLC Group Companies; LOLC Asset Holdings Limited will have a shareholding of 63.75% and LOLC Financial Sector Holdings (Pvt) Ltd will have a shareholding of 26.25%. LOLC General Insurance Limited is one of the fastest growing General Insurance Companies in Sri Lanka. The Company has been operating in the insurance industry for over 10 years and has established itself as a key player within the industry.

The LOLC Group is one of Sri Lanka’s largest diversified Financial Conglomerates with international presence. Being part of such a large conglomerate enables LOLC General Insurance to benefit through synergies within the Group. LOLC General Insurance has a steady stream of business from captive channels within the LOLC Group’s finance and leasing operations. In addition, the Company has strong partnerships and tie ups with non-captive channels that contribute to the growth in Gross Written Premiums.