JXG rings opening bell at CSE celebrating successful IPO and market debut

Trading of shares of Janashakthi Limited commenced on the secondary market of the Colombo Stock Exchange (CSE) this morning (29), following its successful Initial Public Offering (IPO).

To mark the occasion, a ceremonial market opening bell ringing event was held at the CSE. The event was attended by the founder of the Janashakthi Group, Chandra Schaffter, along with members of the company’s Board of Directors, senior management, and CSE officials.

Senior leadership of JXG (Janashakthi Group) rang the opening bell, celebrating the successful conclusion of its IPO and its official market debut. Shares of JXG commenced trading on the Main Board of the CSE, signifying a key milestone in the Group’s corporate journey.

Janashakthi Limited raised Rs. 5 billion through its IPO by issuing 500 million shares at a price of Rs. 10 each. The offering was met with strong investor demand and was oversubscribed on the very first day, prompting an early closure. The company later revealed that applications received were approximately three times the number of shares offered.

According to the CSE’s Listings Division, a total of 2.3 billion ordinary voting shares of Janashakthi Limited, including those issued via the IPO, have been listed on the Main Board.

In today’s secondary market trading, the shares, initially issued at Rs. 10, were seen trading in the range of Rs. 13.60 to Rs. 15.50.

Key subsidiaries of Janashakthi Limited include Janashakthi Life, First Capital Holdings, and Janashakthi Finance.

Source: Adaderana