Agarapatana shares on offer next week

The Initial Public Offering (IPO) of the shares of Agarapatana Plantations Limited, one of Sri Lanka’s leading, innovation-driven plantation companies, will open next week, on August 10, at 9:00 a.m. 
The issue will see 83,070,111 or 16.61 percent of the ordinary voting shares of Agarapatana Plantations Limited offered to the public, at an issue price of Rs.9.00 per share, with the company seeking to raise a total of Rs.747,630,999 through public investment and a listing on the Diri Savi Board of the Colombo Stock Exchange.
Agarapatana Plantations Limited is a strong player in the plantation sector, with a heavy focus on tea and interests in renewable energy. The issue presents investors with an exceptional value proposition, with a compelling discount to the valuation based on the price-to-earnings and EV/hectare metrics. 
The company’s recently concluded Investor Forum witnessed active participation from both domestic and international investors, which included high-net-worth individuals and retail investors, together with several institutions and funds. Subsequent to the successful conclusion of the event, the general consensus among investors is that the issue will see active interest and is likely to be oversubscribed on the opening day.