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Message: <blockquote data-quote="bundy123" data-source="post: 9645314" data-attributes="member: 97713"><a href="http://www.stockinfo.lk/access-engineering-for-billion-ipo-t911.html#p2580" target="_blank">Access  Engineering to go for Rs.5 billion IPO</a>The  engineering arm of Access Group, Access  Engineering, owned by top businessman Sumal Perera is planning to go  public to raise Rs. 5 billion in an Initial  Public Offering. The company  is currently contemplating on a pre-IPO private placement.Speaking  to Mirror Business, Access Group Chairman, Sumal Perera said,  the  company will be launching the IPO second half this year towards the end  of March.“Still, we have not decided the exact dates. But we  are  planning to come up with the IPO probably towards the end of May this  year after the private placement” Perera added.However, he  refused to disclose on what the proceedings of the IPO will be utilized.Sri  Lanka’s market regulator recently had said that they were expecting  around 50 new IPOs  in 2011 with at least two IPOs valued at Rs.5  billion. The biggest IPO in the recent history of Colombo bourse was  Laugfs Gas which raised Rs.2.5 billion.The other IPO that is  expected to raise around Rs.5 billion is Sri Lanka Catering, which is  expected to come into the market this year.Most of the  post-war  IPOs that came into the market to raise funds in the recent times ended  up being oversubscribed by over 100 times. The nearest examples were  IPOs of Singer Finance and Union  Bank of Colombo.Meanwhile,  Access Engineering will be the second largest IPO entering Sri Lanka’s  Capital Market after Dialog that raised nearly Rs.8 billion and will  surpass expected IPOs such as Vallibel One, Softlogic and Expolanka.Since  its inception in 1990, Access Group ventured into the construction  sector in 1994 to secure itself a niche market for providing turnkey  engineering services for Gabion related structures and has formally  established Access Engineering Ltd., in 2001.With a vast  portfolio of completed private sector  and government projects, Access  Engineering is one of the entities in the forefront of the civil  engineering in Sri Lanka. It has a work force of 1400 employees  including over 100 engineering professionals, an in-house design office  and a modern fleet of specialized machinery and equipment.Access  Engineering is specialized as contractors for Design and Construction  of Infrastructure development projects in the fields of Irrigation &  Land Drainage, Water Supply, Highways, Bridges  and suppliers of  Engineering  related products such as Gabions, Geotextiles, High Density  Polythene liners, Bridge Bearing Pads, Bridge Expansion Joints, DI Pipes  and fittings, Construction Chemicals, Water Stops, Metal Arch Underpass  and Mechanical Stabilized Earth Wall Structures, Water & Sewerage  Treatment Plants.From ~| SMICE [Share Market Investors Club  @ EK] |~</blockquote>

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