Luminex Limited has announced their plans for a Rs 250 Million initial Public Offering (IPO) of 31,250,000 ordinary shares at Rs 8 per share, that will be postponed until 19 May. The postponement comes in the light of the current unrest in the country and at the consultation with the Colombo Stock Exchange (CSE).
The issue, when launched, amounts to a 11.52 per cent stake of the company subsequent to the IPO. The amount of Rs 250 million raised from the IPO will be utilised to enhance the working capital to scale up by consolidating local operations. Navara Capital Limited are the financial advisers and issue managers.
Luminex Limited is leading engineering company and market leader in Telecom Infrastructure Engineering and also involved in Electrical, Civil and Water Projects as well.