Hemas Power launches IPO to
expand renewable energy projects

By Nizla Naizer

Hemas Power Limited announced the launch of their Initial Public Offering (IPO), aimed at generating a maximum of over Rs. 600 million in funds yesterday.

Hemas Holdings Chairman Husein Esufally (third from left) at the launch of the Hemas Power IPO yesterday. Hemas Power Director Malik Ranasinghe, Hemas Power Managing Director Kishan Nanayakkara, NDB Investment Bank CEO Vajira Kulatilaka, Chief Operating Officer Darshan Perera and Hemas Power Director Sanjiva Senanayake look on Pic by Rukshan Abeywansa

The issue which is the first corporate IPO in post war Sri Lanka, is aimed at raising funds for Hemas Power’s ventures into renewable energy generation. The IPO consists of 31,300,000 Ordinary Shares issued through an Offer for Subscription, and the company will be listed on the Main Board of the Colombo Stock Exchange.

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