Under the IPO, the company will issue 71,548,244 Ordinary Voting Shares at Rs. 7.00 per share, aiming to raise Rs. 500.8 million. This represents 5.84% of the company’s stake. According to WTS, the capital raised will be used to strengthen its core capital base and improve its capacity to withstand market and interest rate risks amid a shifting interest rate environment.
The IPO’s offer price reflects an 18% upside compared to the primary valuation methodology applied in assessing the company’s worth. The Colombo Stock Exchange (CSE) has granted in-principle approval for the shares to be listed on its Diri Savi Board.
WTS is projected to debut with an indicative market capitalisation of Rs. 8.6 billion, underscoring investor confidence and the company’s valuation strength.
The IPO started accepting applications yesterday (24), while public subscriptions are set to officially open on 17 December.
