Exterminators Limited, Sri Lanka’s premier pest management and environmental enhancement Technology Company will commence trading on the Colombo Stock Exchange (CSE) on 30 March. The IPO was opened on 14 March and it was oversubscribed approximately 4 times in a matter of hours on the opening day, receiving 1,485 applications, which is a significant achievement considering the present volatile market conditions and unfavourable macroeconomic factors in the country. Retail category was oversubscribed by
2 times, the Unit trusts category by 3.2 times and non-retail category by 5.6 times. Exterminators Limited offered 20% of the stake via the ‘Initial Public Offering’ (IPO) to raise Rs 60 million by offering 10,000,000 Ordinary Voting Shares at a price of LKR 6 per share. Exterminators will create history by becoming South Asia’s 1st among the few pest control companies in the world to be listed on a stock exchange.
“The financial performance of the Company was further improved in the first 11 months for the current financial year. The PAT increased by 60% from LKR 14.7 Mn in FY 20/21 to LKR 23.5 Mn FY 21/22, Earnings per share increased by 29% to LKR 0.59 from LKR 0.46 and the P/E ratio stands at 10x as at 28th Feb 2022. Exterminators Limited enters the capital markets domain as a listed entity on the Empower Board; however it has tremendous growth prospects to become a larger company and thereafter migrate to the Main Board of the CSE.”