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Kapruka Holdings debuts trading on the CSE

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Chairman of the CSE, Dumith Fernando, congratulated Kapruka Holdings on its initiative to go public and the company’s being six times oversubscribed on the first day of the IPO. “It is also special because it is the first E-Commerce company of significant size coming to the market, and I couldn’t think of a better company than the leader in that segment to start what I hope is just the beginning of a lot more IT and E-Commerce companies coming to the capital market this year. Kapruka Holdings is truly a global Sri Lankan company, connecting 1.1 million international customers back to Sri Lanka and these are the companies that we, as a stock exchange, love to see come into this market.”

“In 2021, over Rs. 120 billion worth of new capital was raised through the CSE. 13 companies were listed last year, and we are at a record pace in the equity market. It also needs to be mentioned that every single IPO has been oversubscribed on the very first day since 2021.”

Chairman and CEO of Kapruka Holdings Limited, Dulith Herath, commented, “20 years ago, I managed to get the Kapruk.com domain registered. Getting a domain name was a big deal 20 years ago as I built this company. If you look at the share structure of the company, 80% of the shares are owned by me and 20% of the shares are owned by the public.”

“Kapruka has never raised a single rupee from any individual investors before; surviving on its own profits. We only have Rs. 200 million in debt, which is a marvellous story for the size of a company like this. The next uniqueness of Kapruka is that it’s a profitable company compared to the other global E-Commerce companies.”

He also thanked Acuity Partners for constantly encouraging him to take the first step toward entering the market.

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