The Initial Public Offering (IPO) by Lucky Lanka Milk Processing Company Limited has been oversubscribed by 2.00 pm today (11 July), said the managers to the issue Sri Lanka Merchant Bank.

The Sri Lanka Merchant Bank said the 38 million ordinary voting shares of Rs. 228 million and the 24 million ordinary non-voting shares of Rs. 72 million were oversubscribed. Hence, the issue was closed at 4.30 pm today.

Lucky Lanka Milk Processing Company Limited issued an ordinary voting share at Rs. 06 and an ordinary non-voting share at Rs. 03 each.