Softlogic Holdings Pvt Ltd (Softlogic) has just concluded a Rs 1 billion private placement in a bid to expand their retail sector and is considering an initial public offering (IPO) worth Rs 1.5 billion within a year, a company source said.
He told the Business Times that the company wants to open 200 outlets in the next two years, housing their clothing brand - Levis and consumer electronics brands such as Samsung, Xerox, Dell, Nokia, etc.
A private placement is a mechanism whereby a company issues new shares and sells them privately in a bid to raise new capital.
The source said that publicly listed firms as well as others along with some individual investors subscribed for this placement. On Friday, Softlogic was appointed as the Xerox National Partner in Sri Lanka which also saw the launch of the Solid Ink Machine, the first of its kind in the country.
Company subsidiary Uniwalkers, whose core business is being the agents for Daihatsu and Panasonic has started a large mall concept which has an entire product portfolio for the home maker. The source said that the planned retail stores are also on the same lines. |
E-mail
