WindForce makes impressive debut on Cse

• Significant foreign investor interest seen with net foreign buying in share topping Rs.527mn

WindForce Limited PLC’s shares, which began trading yesterday, made a strong debut with the share closing over 15 percent higher compared to the offer price, amid significant foreign investor interest.

The WindForce share opened trading at Rs.17.90, up from its issue price of Rs.16 and recorded an intra-day high of Rs.19, before closing at Rs.18.50, up 15.63 percent or Rs.2.50.
Over 47.5 million WindForce shares were traded, contributing Rs.869.6 million to the day’s turnover, which accounted for one-third of the market turnover. As of yesterday, the counter accounted for a market capitalisation of Rs.24.98 billion or 0.79 percent of the total market capitalisation. 

As per the Colombo Stock Exchange data, foreigners held little over 64.9 million WindForce shares (4.81 percent) after the first day of trading, which included approximately 36 million shares allocated from the initial public offer (IPO) subscriptions, according to the data from CT CLSA Capital, a joint manager and placement agent to the IPO.

Meanwhile, net foreign buying executed by CT CLSA Capital in WindForce in the secondary market topped Rs.527 million yesterday, which amounted to 29 million shares, at an average price of Rs.18.28 per share. WindForce raised Rs.3.2 billion via its IPO, offering a 15 percent stake or 202.6 million shares, which has been the biggest in nine years and was oversubscribed by eight times on the opening day.