The Initial Public Offering (IPO) of Union Bank of Colombo has been oversubscribed by approximately 225 times, the Registrars to the issue informed the Colombo Stock Exchange a while ago.

The number of applications counted was 30, 100 and the number of shares applied for was 3.3 billion. Based on applications processed, the total value of the shares applied for was Rs.84 billion, the filing said.