Exterminators Limited Concludes “Hybrid Investor Forum”
Chandana Wijesundra, Vice President of Investment Banking Atarah Capital, Rohan Senewiratne, Managing Director – Atarah Capital, Marlon Ferreira, Managing Director, Exterminators, Chaaminda Ratnayake, President – Exterminators, Suhaniya Pelpola, Director, Exterminators, Travis Ferreira, Director business development, Exterminators.
Exterminators Limited, the Sri Lankan pest control and environmental improvement technology company, concluded its “Hybrid Investor Forum” on March 8, 2022 at Hilton Residencies, Colombo.
Exterminators intends to list on the Colombo Stock Exchange’s Empower Board through an “initial public offering”.
The issuance opens on March 14, 2022. Exterminators Limited is offering 20% stake via “Initial Public Offering” (IPO) to raise Rs. 60 million by offering 10,000,000 Ordinary Voting Shares to the price of 6 LKR/= per share.
Funds raised through the IPO will be used to expand the company’s branch network by establishing three branches in 2022, build capacity by investing in new equipment/technology, and improve the vehicle fleet at existing branches in Colombo and Kandy.
The offering is managed by Atarah Capital Partners, a company that successfully listed three companies on the Colombo Stock Exchange in 2021. The prospectus and application forms are available on the company’s website, CES and website Manager for the problem.
The company plans to set up a leading 24/7 customer service and retail center to market world-renowned brands in energy saving, pest control non chemicals, health and safety.
The funds will also be used to expand local manufacturing by investing more in “Made in Sri Lanka” products to help mitigate foreign currency outflows from the country.
Exterminators Limited recorded revenue of Rs 116 million and Profit After Tax (PAT) of Rs 15 million in the financial year 2020/21.
The company is yet to strengthen its performance for the current 21/22 financial year and plans to increase the PAT to around Rs 26 million, a 70% increase from the previous year.
