Exterminators IPO oversubscribed on opening day

The initial public offering (IPO) of Exterminators Limited, Sri Lanka’s premier pest management and environmental enhancement technology company, was oversubscribed in a matter of hours on the opening day. 
The IPO, managed by Atarah Capital Partners and Exterminators Limited, offered 20 percent or 10 million ordinary voting , priced at Rs.6 per piece, to raise Rs.60 million.

Founder/Managing Director Marlon Ferreira stated, “We are delighted to be South Asia’s first and among the few pest control companies in the world to be listed in a stock exchange. We take this opportunity to thank each and every investor who believed in us during these challenging times and all employees past and present, our valuable clients, all our stakeholders for helping us on this 24-year amazing journey to reach this significant milestone.”
He further stated, “We thank the CSE for introducing the Empower Board for the SME sector in Sri Lanka and Atarah Capital Partners for encouraging and guiding SMEs to list on the CSE.”

“We believe that listing on the Empower Board is the beginning of our journey as a listed entity. Our aim is to move into the Main Board by 2025, subject to compliance with applicable Listing Rules and during this journey we will do whatever is required to exceed all stakeholder expectations by strictly adhering to the ESG framework by assessing the impact on sustainability and ethical practices at Exterminators in each and every step we take,” he added.