Arpico Insurance Limited (Code: AINS) was listed on the DiriSavi Board of the Colombo Stock Exchange (CSE) on January 16, 2015. Prof. Laxman R Watawala, Director - Richard Peiris & Company PLC rang the ceremonial opening bell to begin trading.

He was joined by Mr. Viville Perera, Director (Arpico Insurance), Mr. S. Sirikananathan, Director (Arpico Insurance), Mr. Jagath Dissanayake, Director, (Arpico Insurance), Mr. D.C. Kevitiyagala, CEO (Arpico Insurance), Mr. T.S. Kitchilan, AGM Operations (Arpico Insurance), Mr. Melanga A Doolwala, Finance Manager (Arpico Insurance), Mr. Dilruk Fernando, CEO (Richard Peiris Securities), Mr. Sharad Sri, Director (Arpico Ataraxia) and Mr. Tharanga Gamage, Vice President (Investment Banking Arpico Ataraxia).

This listing marks the first listing for 2015 on the CSE.

On the first day of trading Arpico Insurance Limited shares’ opened at Rs. 14.00, closed at Rs. 14.10, and reached a high of Rs 15.00. Through the IPO Arpico Insurance raised Rs. 79.56 Million by way of listing 6,630,400 shares at Rs 12.00.

Arpico Insurance began its operation in January 2012. The company is now expanding its geographical presence, covering eight major Provinces namely; Western, Southern, Northern, North Western, North Central, Eastern, Sabaragamuwa and Uva with a total branch network of 19.

Arpico Insurance launched its IPO (Initial Public Offering) on 11th December 2014 and was oversubscribed by 12th December 2014. On the completion of three years of operation, on 12th January 2015, the company opened for trading on the CSE. This marks a major milestone in Arpico Insurances’ history and displays the commitment of the company towards good corporate governance and sharing its success with the public.

Arpico Insurance is a subsidiary of Richard Pieris and company PLC.

Photo caption: Prof. Lakshman R. Watawala (Director, Richard Peiris & Company PLC)