![]() He emphasized the significance of this success not only for the UBF Franchise but also as a testament to the unwavering buoyancy in the entire Financial Services Sector. Ransith Karunaratne, the Director/Chief Executive Officer, conveyed immense satisfaction with the outcome of the IPO, especially considering the post DDO scenario. Within minutes of opening, the 55 million share offering was fully subscribed, indicating a resurgence of confidence in the financial markets. The eagerly awaited UBF IPO, held on July 20th, 2023 received an immense response from the retail investor segment. ![]() Notably, UBF holds the distinction of being the first Licensed Finance Company owned by a Licensed Private Commercial Bank, the Union Bank of Colombo PLC. ![]() This IPO follows the announcement of the Domestic Debt Optimization plan set out by the Central Bank of Sri Lanka. (UBF) takes pride in being the first company to successfully launch an Initial Public Offering (IPO) as Sri Lanka's economy shows signs of recovery.
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