Prime Lands Residencies to begin trading at CSE

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.

“I want to say that we recognise the importance of meeting shareholder expectations, and delivering long-term shareholder value, which is fundamental for a listed company and furthermore we believe that together with the investing public, we can continue to spur the nation’s growth story,” Prime Group Chairman Premalal Brahmanage said.