LVL Energy Fund to announce Rs1.2bn IPO; largest since 2015
A leading energy company and a subsidiary of Lanka Ventures, the LVL Energy Fund is set to announce a 1.2 billion rupees initial public offering on 14th December 2017.
Acuity Partners will be the issue manager. 120 million ordinary voting shares are to be offered at 10 rupees each.
The company said this will be the largest IPO to be launched in Sri Lanka since 2015 and the proceeds will fund its strategic expansion and growth in the renewable energy sector.
Following several rounds of fund raising which culminated in a total fund base of nearly 2,700 million rupees last year, CEO of LVL Energy Fund, Sumith Arangala said it is now in a better position to explore more prospects and markets.
“Part of the funds raised from this IPO will be channelled towards investment in three new...