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Exterminators Limited concludes ‘Hybrid Investor Forum’

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 Chandana Wijesundra, Vice President Investment Banking Atarah Capital, Rohan Senewiratne, Managing Director – Atarah Capital, Marlon Ferreira, Managing Director, Exterminators, Chaaminda Ratnayake, Chairman – Exterminators, Suhaniya Pelpola, Director, Exterminators, Travis Ferreira, Director Business Development, Exterminators.

Exterminators Limited, Sri Lanka’s pest management and environmental enhancement technology company, concluded it’s ‘Hybrid Investor Forum’ on March 8, 2022 at Hilton Residencies, Colombo.

Exterminators intends to list on the ‘Empower Board’ at the Colombo Stock Exchange via an ‘Initial Public Offering’.

The issue opens on March 14, 2022. Exterminators Limited offers 20% of the stake via the ‘Initial Public Offering’ (IPO) to raise Rs. 60 million by offering 10,000,000 Ordinary Voting shares at a price of LKR 6/= per share.

The funds raised through the IPO will be utilized to expand the Company’s branch network by setting up three branches in 2022, build capacity by investing on novel equipment/technology and improve the vehicle fleet in the existing branches in Colombo and Kandy.

The offer is managed by Atarah Capital Partners, a company with a track record of successfully listing three companies in the Colombo Stock Exchange in the year 2021. The prospectus and application forms are available on the company’s, CES website and the website of the Manager to the Issue.

The company plans to setup a premier 24×7 customer care and retail center to market internationally renowned energy saving, non-chemical pest management, health and safety brands.

The funds will also be utilized to expand local manufacturing by further investing in ‘Made in Sri Lanka’ products to contribute mitigating the out-flow of foreign exchange from the country.

Exterminators Limited recorded a revenue of Rs.116 million and Profit After Tax (PAT) of Rs.15 million in the financial year 2020/21.

The company is to further strengthen its performance for the current 21/22 financial year and forecasted to increase PAT to approximately Rs.26 million, which will be a 70% increase from the previous year.

Thursday, March 10, 2022 – 01:00

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