Luminex Limited has announced their plans for a LKR 250 Million initial Public Offering (IPO) of 31,250,000 ordinary shares at LKR. 8/- per share, that will be postponed until 19th of May 2022. The postponement comes in the light of the current unrest in the country and at the consultation with the CSE.
The issue, when launched, amounts to a 11.52% stake of the company subsequent to the IPO. The amount of LKR 250Mn raised from the IPO will be utilized to enhance the working capital to scale up by consolidating local operations. Navara Capital Limited are the financial advisors and issue managers.
Luminex Limited is leading engineering company and market leader in Telecom Infrastructure Engineering and also involved in Electrical, Civil and Water Projects as well.
The company has been in operation for well over 35 years and completed over 850 projects in the past 10 years. It is a leading telecom OSP (Outside Plant) construction partner for Sri Lanka Telecom and Dialog Axiata and a construction contractor for Public & Private entities. The company is empowered by a competent 570 inhouse workforce across 8 operation centers and 29 project offices at present.