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Apollo Colombo launches its Initial Public Offering (IPO) today affording the Sri Lankan public the opportunity to become shareholders of its state-of-the-art hospital in Colombo. The hospital hopes to raise approximately Rs. 308 million by issuing more than 20 million shares of Par Value Rs. 10 each. They will be sold at an issue price of Rs. 15 each. Apollo Financial Director Suneetha Reddy said at a recent press conference that the IPO would allow the public access to 13% of Apollo’s total equity. “True to its slogan of ‘touching lives’, Apollo Hospitals, Colombo hopes that the public would accept the ideal opportunity that this share issue provides by becoming partners in Apollo’s vision for the healthcare industry in this country,” she said. Apollo Vice Chairman, Thamby Navaratnam said that the share issue offers much more to subscribers than just typical benefits such as dividends and share value. “This issue offers shareholders 10% discount on medical investigations, a transferable coupon equivalent to 20% of the face value of the shares restricted to 15% of the value of the bills and a 20% discount on preventive health checks,” he said. Apollo Hospitals Colombo, commenced operations in Sri Lanka in June this year. The hospital currently equipped with over 350 beds is to be expanded to 500 beds. It is geared to provide a round-the-clock, 365-day service in Emergency, Cardiac, Neurological and Orthopaedic care as well as other services. Related story: Apollo Hospital performs 100 cardiac surgeries
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