IPO from UDA
[September 18 2010]

<p>Shirajiv Sirimane 

<p>Urban Development Authority (UDA) is to float a Initial Public offering (IPO) to raise Rs. 5 million by the end of the year. 

<p>Director General Nihal Fernando said that this would be launched on 23 September and the official banker for this would be Bank of Ceylon. 

<p>He said that if the IPO over subscribes they would go up to the Rs. 10 billion mark. The money raised from this would be utilized for mammoth Urban Development projects that are on the pipe line to make.