Leasing firm allocates shares

Trade Finance and Investments Limited has allocated the entire amount of shares the individual retail investors have applied for, under the company’s IPO.

Accordingly, the company has allotted 20.8% of the shares to the retail individual investors which amounts to 1.253 million shares out of 6 million ordinary voting shares offered.

Non retail investors have been allotted the rest of the shares amounting to 4.747 million shares.

Applicants who have subscribed up to 25,000 shares would be allotted and issued the entire amount of shares applied for.

The ones who have applied for over 25,000 shares would be issued 25,000 shares and another 25% of the remaining shares.

The Company says, “This is provided that applicants entitled to 50 shares on this percentage basis be allotted and issued a further 50 shares to prevent the allocation of odd lots”.

Capital Alliance Holdings and Associated Electrical Corporation Limited, the two largest applicants have been allotted 4,900 shares each.

The firm is planning to raise Rs. 120 million via this IPO.