Janashakthi Shares Trade Today

363 million ordinary shares of Janashakthi Insurance Co Ltd (JICL) will commence trading on the Colombo Stock Exchange today, Monday 21 July.

The highly successful JICL IPO which was launched on 16 June 2008, was the first IPO in Sri Lanka in two years, and went on record as being oversubscribed four times over, within hours of its opening.

The company initially sold 16.5 million shares at Rs. 12 each, while the Board of Directors decided to exercise the option to issue a further tranche of 16.5 million shares, thus doubling the offering.

Extending his unqualified and sincere thanks to everyone who placed their trust in the IPO and in the long term prospects of the Company, Managing Director Prakash Schaffter said that the success of the IPO is an endorsement of the Company’s strength and image. “The flood of applications in record time not only demonstrated representation across the country, but also reinforced the level of trust and confidence people have in Janashakthi”, Schaffter added.