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| Sunday, 10 July 2005 |
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Dialog Telekom IPO oversubscribed six times Sri Lanka's largest ever IPO, the much anticipated Dialog Telekom Limited Initial Public Offer was oversubscribed six times on Thursday, its opening day. In June this year Telekom Malaysia Chairman Tan Sri Dato Ir Mohd Radzi Mansor, who is also Chairman of Dialog Telekom said that the primary objective of the Dialog Telekom Listing was to create an opportunity for Sri Lankan public ownership in the company. Echoing this sentiment at the time Dialog Telekom Chief Executive Dr Hans Wijayasuriya noted that the success of the company and the Dialog brand name belonged to the Sri Lankan public. "It is therefore logical and timely that public ownership is added to Dialog's formula of success," he said. Judging by the unmitigated success of the issue it is clear that investors supported this view and were happy to place their trust in Dialog Telekom Limited. Expressing his delight, company CEO Dr. Wijayasuriya said "We are extremely honoured by the tremendous response received from the public. We would like to thank everybody who has placed their trust in us, and we will do our utmost to deliver on that trust as we go forward". Managers to the issue, NDB Investment Bank CEO Vajira Kulatilaka said, "The response received is ample evidence of people's confidence in Dialog Telekom. But that's not all we must also take note of the remarkable foreign participation in this issue. This is a sign not just of faith and confidence in the company, but in the country as well. The success of this IPO is a positive sign for Sri Lanka." Large foreign funds have come in which shows that Sri Lanka can attract foreign investment to the country. It is not only an achievement for Dialog but for the country as well. It shows that well managed companies can attact foreign funds to the country, he said. |
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