Fri, 30 July 2010  15:51:05
Green Shoe 1 Comment(s)
16 Sep, 2009 12:45:24
Sri Lanka pioneer closed-end fund raises Rs1.0bn
Sep 16, 2009 (LBO) – Sri Lanka's first listed closed-ended fund, NAMAL Acuity Fund had been oversubscribed on the opening day and managers said an option to issue additional units will be exercised.
Its managers said Wednesday it will issue 10 million units to raise 500 million rupees.

The firm was planning to issue 10 million shares with an option to issue a further 10 million shares.

The firm said subscriptions will be kept open till 4.30 pm on September 17.

The fund is promoted by National Asset Management, a pioneer in open ended mutual funds in Sri Lanka and Acuity Partners, an investment bank.

Corrected - total is

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READER COMMENT(S)
1. ss Sep 17
It is good to see that these type of funds grow in our stock market. USA has 60% of Unit trusts close ended funds while we only having 2%(not listed). since this has issued at 50, this will trade (like JKH) in the market since risk is low with units compared to shares.