Browns Investments Limited කොටස් නිකුතුවේ අයදුම්පත් බාරගැනිම අරඹයි.

සංස්ථා ප්‍රකාශය - බාගන්න
අයදුම්පත - බාගන්න
ව්‍යවස්ථාවලිය - බාගන්න

මෙම නිකුතුවට අයදුම් කිරීමට නම් ඔබට CDS ගිණුමක් අනිවාර්ය වන අතර අවම අයෝජනය කොටස් 1000ක් (රු 5*1000 රු.5000) වේ.

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Crisis-hit Nation Lanka records Rs. 1.3 mn profit

The quarterly financial report of Nation Lanka PLC for the period ended 31st March 2011 reveals dramatic turnaround of the group far exceeding the expectations of the investor public. The group which faced financial crisis in the past has recorded a net profit of Rs. 1.3 million in the quarter under review compared to a massive loss of Rs. 509 million for the corresponding period of last year. The earnings per share vastly improved from minus Rs.12.80 to Rs.0.05 positive. For the 12 month period ending 31st  March 2011 -losses have been reduced to Rs. 216M compared to previous year with a massive loss of Rs. 1071 M. Accordingly the negative earnings per share has been reduced from Rs. 42.52 to Rs. 5.21.

The company which was under close supervision of the Central Bank was recently acquired by a very capable set of private sector management and a sum of Rs. 500 million has been injected to the company by way of a private placement by the new management. In addition, a sum of Rs. 300 million has been raised by way of a rights issue and this positive factor would be reflected in the next financial statement. For instance it would result in the net asset value per share increasing from Rs.0.05 to Rs. 1 .55.

The management has been very prudent in its investment strategy and accordingly a substantial portion of the Rs. 800 million mobilized has been invested in government securities at present. It is expected with the increase in lending with high return would enhance the profitability in the current financial year.

The company which devoted much time on the restructuring and rehabilitation of the company in the past after achieving success has now embarked on the expansion of business for greater profitability as follows:

a) It is expected the license to operate as a margin provider would be approved by the Securities and Exchange Commission of Sri Lanka shortly. For this specific purpose Nation Lanka Capital Ltd has been formed as a subsidiary and initial funding would be a proposed substantial debenture issue ensuring satisfactory margin.

b) Diversion of investments from low yielding treasury bills presently at 7% to loans and advances and margin trading which may give additional margin of around 6% to 7%.

c) The company expects approval to function as a finance company from the central bank shortly which would facilitate mobilization of deposits increasing the capacity to lend and profitability.

d) Nation Lanka Finance a subsidiary approved by the Central Bank as a leasing facilities provider too is expected to perform better with the increased economic activity in the country.

e) Ceylinco Stock Broking Company with a full member license which is a money spinner would transfer broker credit to Nation Lanka Capital Ltd, once approval is granted and this would facilitate enhancement of credit presently restricted and increased profitability.

f) The Millenium Housing Developer Ltd has now turned profitable and it is expected to generate substantial profits in the current financial year.

It is also expected the company would record a substantial net profit during the current financial year with further steady progress in the coming years. Nation Lanka Plc is a success story out of several loss making companies of Ceylinco Group and the President as Minister of Finance should be commended for the initiative taken to successfully rehabilitate the company.

During the current financial year the group would emerge as a leading conglomerate in the financial sector with varied functions such as housing, property development, stock broking, leasing, hire purchase, loans, deposit, mobilization and pawning.

There have been takeover bids of the company in the past and with the achievement of financial stability and substantial potential for growth ,now this effort may be intensified by a few conglomerates during next few months. Some analysts estimate with the goodwill the bid price could be even higher than the current market price.

source - www.dailymirror.lk

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Expolanka Holdings ends debut in company of top 20 most valuable

Expolanka Holdings Ltd. yesterday had a steady debut price wise but finished the day amongst the elite company of top 20 most valuable.

First off the block was a parcel of 379,500 shares transacted at Rs. 15 each whilst Expolanka finished the inaugural day with 31.6 million shares changed hands via 4,839 trades for Rs. 459 million. Deals on Expolanka contributed the highest turnover.          

Whilst the diversified sector index dipped marginally, Expolanka finished the debut up 40 cents to close at Rs. 14.40. With a market capitalisation of Rs. 28.15 billion (1.11% of the total), Expolanka finished with a rank of 19th most valuable above Hayleys the 20th placed with a value of Rs. 27.7 billion.

Expolanka traded midst a bearish market as All Share Index dipped by 0.6% and Milanka by 0.9%. The market’s turnover was only Rs. 2.48 billion, down from Rs. 3.3 billion on Friday.

Despite some expecting most of those who participated in the Rs. 6 priced sell down of shares prior to the IPO would dump for profit or cash in yesterday, the quantity traded confirm otherwise. The 31.6 million shares traded account for 1.6% of the issued number of shares, 10% of the sell down and perhaps 50% of the estimated retail category in the latter. Of the IPO amount yesterday’s quantity was around 18%.

Some brokers speculated that among the selling side of Expolanka yesterday could be some of those who participated in the sell down as well as a few who have the habit of exiting on the inaugural trading post-IPO.

Other brokers said that there was demand/support at Rs. 14.50 and even at Rs. 15 level including foreign buying. The foreign holding of Expolanka as of yesterday was 20.45 million, which is equivalent to 12% of the offered amount via IPO or slightly above 1% of the total number of shares in issue.

NDB Stockbrokers commenting on the overall market said indices gradually decreased during the day amidst profit taking and low investor interest in blue chip stocks. Investor participation was mostly witnessed in penny stocks and Expolanka Holdings which commenced trading today. However, subtle price appreciations of these stocks could not hold the indices up.

It also said manufacturing sector also contributed significantly to the market turnover (due to Blue Diamonds Jewellery Worldwide and Royal Ceramics Lanka) with the sector index decreasing 0.38%. Renewed interest was witnessed in counters such as PC House and Royal Ceramics Lanka. Stocks which made quick gains recently, such as Browns & Company, Central Finance and Colombo Land dipped amidst profit taking.

Other analysts said institutional selling and buying was seen in Royal Ceramics which saw around 661,000 shares traded hitting a peak of Rs. 167 before closing at Rs. 162, up by Rs. 5.50.

Reuters reported that stock market fell to near three-month closing lows led by blue chips and financials due to a technical correction after heavy speculative trading in the past few days.

ASPI closed 0.62 percent or 45.06 points weaker at 7,186.86, its lowest since 21 March.

 “This is a correction after several penny stocks boosting the index in heavy speculative trading,” said a stock broker on condition of anonymity. “I think market is getting back to normal with fundamentals.”

Foreign investors were net buyers of 46.1 million rupees worth of shares on Monday, but they have sold a net 6.95 billion rupees worth shares in 2011 after a record 26.4 billion in 2010.

The bourse is still Asia’s best performer in 2011 with a 8.3 percent gain, after bringing in the region’s top return of 96 percent last year.

Meanwhile the rupee ended a tad firmer, closing at 109.45/48 a dollar from Friday’s 109.48/52 due to stocks-related inflows, currency dealers said. It hit a high of 109.30 a dollar on Thursday, its highest since 30 October, 2008, Reuters data showed.

source - www.ft.lk

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LOLC Leisure goes for Rs 2.5 billion refurbishment

Ravi Ladduwahetty

LOLC Leisure will undertake an ambitious Rs 2.5 billion refurbishment programme for its three southern coastal belt hotels -Club Palm Garden, Riverina and Tropical Villas bringing them to international standards.

“These three hotels will be upgraded to reach international standards and we are targeting these three hotels to be the best resort properties in Sri Lanka”, LOLC Group Managing Director and CEO Kapila Jayawardena told Daily News Business yesterday.

The company is also now at an advanced discussion stage with a frontline Thai firm of architects to coordinate the full refurbishment programme which will see the total revamp of the hotel, billed to be completed in eighteen months.

The existing structure will remain intact but there will be substantial value additions to the rooms, restaurants and the kitchens of these three hotels.

The three hotels have been closed down for one and half years from May 1 to refurbish and modernize the properties. After being upgraded, the hotels will be managed by a globally reputed hotel management company and a global hotel chain operator.

“We are in discussions with Hilton, Marriott, Meridien and Six Senses chains and will announce the operator that we are going to tie up with shortly,” he said.

Market sources were agog last week of a Rights Issue and a Private Placement to fund the refurbishment. The entire 7.3 acres land owned by Confifi’s Club Palm Garden (PALM) alone is now valued at nearly Rs 450,000 per perch, and the existing 140 rooms alone are valued at nearly Rs 12 million each.

Accordingly, the share is valued at a price of around Rs 450.

However, Jayawardena said that nothing has been decided yet at this stage on a Right Issue or a Private Placement
.
Jayawardena said LOLC will revalue the properties spanning 22 acres which have not been revalued so far and that will be after the refurbishment.

LOLC in May 2010, bought Confifi Group’s 70 percent with Browns Investments, in two deals valued at over Rs 900 million, in which LOLC bought 3.1 million shares or 43.3 percent Confifi Hotel Holdings at Rs 210 per share.

Browns Investments has a 30 percent stake. Confifi Hotel Holdings further owns a 21.8 percent of Eden Hotel Lanka and 24.06 percent of Riverina Hotels, both listed firms.

LOLC Leisure which now owns the leisure properties has over 22 acres with 500 rooms of prime beach front land located on one of the best stretches of beach in the ‘Golden Mile’.

source - www.dailynews.lk

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Remarkable turnround for Nation Lanka Finance

The quarterly financial report of Nation Lanka Finance PLC for the period ended March 11 reveals a dramatic turnaround of the group far exceeding the expectation of the investor public.

The group which faced a financial crisis in the past has recorded a net profit of Rs 1.3 million in the quarter under review compared to a massive loss of Rs 509 million for the corresponding period of last year.

The earnings per share improved from minus Rs 12.80 to Ro-05 positive.

For the 12 month period ending March 31,11 losses have been reduced to Rs 216 m compared to previous year with a massive loss of Rs 1071m. Accordingly the negative earnings per share has been reduced from Rs 42.52 to Rs 5.21.

The company which was under the management of the Central Bank earlier has been recently reverted to the private sector management and Rs. 500 million has been injected to the company by way of a private placement.

In addition Rs. 300 million has been raised by way of a right issue and this positive factor would be reflected in the next financial statement. For instant it would result in the net assets value per share increase from Rs. 0.05 to Rs. 1.55.

source - www.dailynews.lk

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Newest conglomerate Expolanka debuts on Colombo Bourse today



■ At issue price of Rs. 14 enters straight in as 21st most valuable stock in CSE;

■ Foreign and local institutional buying on diversified sector last week a good omen for new entrant on the back of strong fundamentals

The enterprising and fast expanding Expolanka Holdings Ltd., will debut today on the Colombo Bourse as the country’s latest conglomerate to be listed, a development which has been roundly welcomed by those inside and outside the market.

At its issue price of Rs. 14 and 1,954,915,000 shares in issue, Expolanka’s entry to the main board of diversified sector is also in style making it the 21st most valuable stock in the CSE. Last week’s market capitalisation of Colombo Bourse was Rs. 2,461 billion, and Expolanka’s entry will bolster it by a further Rs. 27.3 billion.

Whilst all eyes today will be on Expolanka after it literally rings the bell to signify the opening at Colombo Bourse, a mere 25 cents gain in its share price alone will propel Expolanka to the league of top 20 most valuable.

Having weathered many odds Expolanka’s Rs. 2.4 billion IPO was the biggest year to date until Softlogic’s Rs. 4 billion concluded last week. During its IPO, most brokers recommended the stock as a medium to long-term buy whilst some investors adopted a “wait and see” attitude given the 133% price difference between the pre-placement and IPO price. However Expolanka issue was oversubscribed by almost 5 times silencing critics as well as doomsayers. Softlogic IPO pricing which was 303% different to its pre-placement is also believed to have been oversubscribed by 5 to 6 times.

Despite reservations by some brokers and analysts Expolanka saw heavy retail demand with around 12,000 investors (out of slightly over 13,000) figuring in the category of 10,000 shares and below. Analysts said this demand reinforces the fact that Expolanka is among blue chips to be sought after by mature retailers and medium-to-long-term focused new investors hence it should be in portfolios of institutional investors.

Expolanka is also debuting hot on the heels of the market last week concluding a busy session for the premium diversified sector stocks.

Newest conglomerate…

 The diversified holdings accounted for over 13% the week’s turnover thanks to strategic foreign as well as local institutional buying interest. Premier blue chip JKH saw 4 million of its shares trade for Rs. 1.2 billion with a high of Rs. 303 before closing at Rs. 300 whilst 1.17 million Aitken Spence shares changed hands for Rs. 171.6 million with the stock price peaking to Rs. 150 before closing 148.50. Colombo Fort Land rose to a high of Rs. 85 before closing at Rs. 79.90 with 2.6 million shares traded for Rs. 212.4 million. Hayleys and Hemas were relatively subdued though the latter was only blue chip to have finished last week with a gain in its price. Diri Savi Board Free Lanka Capital triggered strong retail and high networth speculative interest with 174.7 million shares traded for Rs. 892 million.

Analysts said that last week’s turnover of Rs. 2.7 billion for diversified holdings, over 100% increase as opposed to Rs. 1.1 billion in the previous week reaffirmed the renewed interest on blue chips as solid and safe counters for investors in a market riddled with play on penny and speculative stocks. Foreign buying and high networth investor interest in JKH as well as institutional buying into Spence kept the diversified stocks above the rest.

Expolanka Holdings is a diversified conglomerate with interests in transport, manufacturing and international trading and strategic investments in BPO and tertiary education. Expolanka started out as a family owned business in 1978 and as an exporter of fresh produce and has positioned itself today as a conglomerate with a consolidated group turnover of Rs. 29 billion as at 31 March 2011 and boasts of a presence in 38 cities across 11 countries.

Last week Expolanka Holdings Group CEO Hanif Yusoof told the Daily FT that there was encouraging interest on the company’s debut in the secondary market. This was after Yusoof among a select group of companies participated at the Sri Lanka Day at the London Stock Exchange as well as Investment Destination Sri Lanka roadshow in Dubai organised by Heraymila Securities.

“The response to the post-war Sri Lanka story as well as resultant prospects for Expolanka in logistics and transportation sector especially has been encouraging,” Yusoof told the Daily FT on the sidelines of the Dubai Road Show at the Ritz Carlton Hotel.

In a statement prior to the IPO opening Yusoof said: “These are exciting times for Expolanka. We expect the IPO to raise Rs.2.4 billion, which we intend to primarily use to enhance our working capital, expand our warehouse capacity and restructure debt. In addition, we intend to expand our global and local footprint and concentrate on enhancing our core business.”

Hanif further stressed that the group had identified various plans in moving forward and taking the company to the next level: “The group functions with a simple vision. We believe in stakeholder returns and our aim is to bring value to our stakeholders. We have set ourselves some challenging growth plans, which we hope will create value for all our stakeholders.”

“We have interests and plans in the emerging markets and also have focused interest in emerging industries in Sri Lanka as well. We seek opportunities where there is scope for growth and development,” he added.

Asia Wealth Management in its IPO recommendation said (Expolanka Holdings) share trades attractively at a PER of 14.8X FY2012E earnings and 11.8X FY2013E net profit.

CT Smith Stockbrokers said: At the IPO price of Rs.14, Expolanka trades at PER multiples of 15.1X FY12E and 11.2X FY13E, offering strong recurring EPS Growth of 42% in FY12E and 35% FY13E, whilst also providing attractive ROE’s of 28% in FY12E and 27% in FY13E. The Group also has a comparatively attractive PEG ratio of 0.4X in FY12E. Thus, with high growth expectations, strong regional presence, a recognised brand name and capable management team, we expect Expolanka to outperform the market in the medium to longer term.”

Based on published accounts as at 31 December, 2010, CT Smith also said Expolanka Group trades at favourable valuations to most Diversified Holdings sector peers with conglomerate John Keells Holdings (JKH) currently trading at a 22.8X FY12E PER offering 30% FY12E EPS Growth, whilst Aitken Spence (SPEN) trades at 22.5X FY12E offering 20% FY12E EPS Growth, and CT Holdings (CTHR) trades at 23.2X FY12E offering 79% EPS Growth. Hemas Holdings (HHL) though, trades at 13.6X FY12E PER offering EPS Growth of 35% FY12E.

source - www.ft.lk

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Softlogic attracts US$ 35 m

Sanjeevi Jayasuriya


The enthusiasm to invest in the country’s stock market for the right investment option is still high. Softlogic Holdings was able to attract US $ 35 million worth foreign investment at the recently concluded initial public offering.

This is a positive trend as foreign investors show a keen interest on investing in financially sound companies. The country is in the right track to attract more investments with good governance and transparency, Softlogic Holdings Chairman Ashok Pathirage told Daily News Business.

This is the first time after the Dialog IPO that high value of foreign investors participated at an IPO. This augurs well for the future IPOs especially where the companies have high credibility and proven track records, he said.

source - www.dailynews.lk

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Malwatte Valley in unique Rs. 576 m Rights to fund leisure foray

Malwatte Valley Plantations has announced a unique Rights Issue of voting and nonvoting shares to raise Rs. 576 million to finance its foray into the leisure sector.

The company’s board at its meeting last week resolved to have a rights issue mixing voting and non-voting shares. The basis is for every 10 voting shares held, one voting share and three non-voting shares as well as for every 10 non-voting shares held one voting share and three non-voting shares will be offered at Rs. 6.75 for voting and Rs. 5.50 for non-voting share.

Consequently 24.759 million voting shares will be issued along with 74.277 million non-voting shares. The company’s current stated capital is Rs. 373 million.  Malwatte said proceeds from the Rights will be utilized for diversification into the leisure sector.

The Rights Issue, subject to regulatory and shareholder approval, is at a discount to the market as Malwatte voting share on Friday closed at Rs. 9.80, up by 30 cents and non-voting finished up 40 cents to Rs. 9.50.
The net asset per share is Rs. 78.98 as at 31 March, 2011.

In the first quarter of FY2011, Malwatte Valley posted a Rs. 198.6 million net profit, up from Rs. 119.8 million a year ago. In the 31 December, 2010 ended financial year net profit was Rs. 424 million.

In April the company concluded a sub division of shares on the basis of 10 shares per every one held.

The Stated Capital represents 224,590,160 issued and fully Paid Ordinary Shares including one Golden Share held by the Treasury which has special rights and 23,000,000 Nonvoting shares.

Wayamba Plantation Ltd. owns 62.276% of voting shares whilst Managing Director Willem L. Bogstra holds 5.47% stake. Lanka Mountcastle Ltd. owns 83.3% of the non-voting stock.

Whilst its 2010 Annual Report is yet to be released, the company in 2009 had 17,126 of which 17,085 were individuals and 16,939 were categorised as holding less than 1,001 shares accounting for 9.68%.

source - www.ft.lk

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"ප්‍රතිලාභ" on Rupawahini

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තවත් සමාගම් තුනක් කොටස් වෙළඳපලට

මහ බැංකු නියාමනය අනුව යමින් තවත් මුල්‍ය සමාගම් 2ක් කොටස් වෙළඳපලේ ලැයිස්තු ගත කිරීමට අවර ලැබී ඇත. මේ අනුව ඇසෝසියේටඩ් මොටර් ෆිනෑන්ස් කම්පැනි ලිමිටඩ් (Associated Motor Finance Company Ltd) හා අබාන්ස් ෆයිනෑන්ශල් සර්විසස් (Abans Financial Services Limited) කොටස් වෙළඳපලේ ලැයිස්තු ගත කෙරේ.

එසේම කොළඹ කොටස් වෙළඳපොළේ කොතෙකුත් සමාගම් ලයිස්තු ගත වුවත් තවමත් ඇඟලුම් නිපදවන සමාගමක් ලයිස්තු ගතවී නොමැත. එම සීමාව කඩා බිඳ දමමින් ඇඟලුම් නිපදවන සමාගමක්ද ලයිස්තු ගතවීමට සූදානම් වේ.
මේ අනුව, ෆින්කෝ සමාගම් සමූහයට අයත් ඔරියන්ට් ගාමන්ට් ලිමිටඩ් සමාගම කොළඹ කොටස් වෙළඳ පොළේ දෙවන පුවරුවේ ලයිස්තු ගත කිරීමට කටයුතු සූදානම් කර තිබේ.

මේවා මූලික නිකුතු (Initial Public Offerings - IPO) නොවන අතර සමාගමේ කොටස් හිමි පාර්ශවයන්ට කොටස් විකුණා දැමීම (Introduction) සඳහා අවස්ථාව හිමිවේ.

එසේම එක්ස්පෝලංකා හෝල්ඩිංස් සමාගමේ හා බිම්පුත් ලංකා ඉන්වෙස්ට්මන්ට්ස් සමාගම් වල කොටස් ජුනි 13 වනදා ලැයිස්තු ගත කෙරේ.

Stock Codes - 
Expolanka Holdings Limited -  EXPO.N0000

Bimputh Lanka Investments Limited - BLI.N0000

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Vallibel One Limited කොටස් නිකුතුවේ අයදුම්පත් බාරගැනිම අරඹයි.


සංස්ථා ප්‍රකාශය - බාගන්න
අයදුම්පත - බාගන්න
ව්‍යවස්ථාවලිය - බාගන්න

මෙම නිකුතුවට අයදුම් කිරීමට නම් ඔබට CDS ගිණුමක් අනිවාර්ය වන අතර අවම අයෝජනය කොටස් 100ක් (රු 100*25 රු.2500) වේ.

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Rights Issues - COMB and HNB

Commercial Bank of Ceylon PLC

Company ID: - COMB

Proportion: - One (01) new ordinary share for every fourteen (14) shares held
Issue Price: - Rs.181.65/- (Voting)
Issue Price: - Rs.130.13/- (Non - Voting)
Qty Offered (Voting): - 25,474,200 or such other higher number consequent to the exercise of options under ESOS.
Qty Offered (Non - Voting): - 1,745,495 or such other higher number consequent to the exercise of options under ESOS.

Hatton National Bank PLC

Company ID: - HNB

Date of Initial Announcement: - 01-Jun-2011
Proportion: - One (01) new ordinary share for every ten (10) shares held
Issue Price: - Rs.219.50/- (Voting)
Issue Price: - Rs.119.50/- (Non - Voting)
Qty Offered (Voting): - 28,740,020 or such other higher number consequent to the exercise of options under ESOS.
Qty Offered (Non - Voting): - 7,013,916 or such other higher number consequent to the exercise of options under ESOS.
General Meeting & Provisional Allotment: - 01.July.2011
XR:- 04-July-2011
Dispatch of Provisional Letter of Allotment: - 08.July.2011
Rights Trading Commences on:- 15.July.2011
Renunciation:- 22.July.2011
Last Date of Acceptance & Payment:- 25.July.2011

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Number of listed companies top 250

The number of listed companies in the country topped the 250 mark last week.
The milestone was reached with the listing of Multi Finance last week (30 May) whilst the week also saw two more listings, Commercial Credit on 1 June and Mercantile Investments on 2 June. In the previous week, the number of listed companies amounted to only 249.

The three firms listed last week were by way of introductions. By end 2010, the number of companies listed on the CSE was 241 and since then there had been 11 additions. The number so far this year has already surpassed the total new listing of 10 achieved in 2010.

Prior to 2010, the highest number of listings of 242 was in 2004 whilst the lowest had been 231 in 2009.
Mid this month the bourse will see the listing of Expolanka Holdings Ltd., whilst the CSE last week announced two more IPOs – Browns Investments worth Rs. 250 million and Vallibel One Ltd. worth Rs. 500 million, whilst the biggest in six years, Softlogic Holdings’ Rs. 4 billion IPO, will officially open on Thursday.

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Access Eng. to raise Rs.4.5 billion via PP Engineering to raise Rs.4.5 bn via pre- IPO private placement

By Indika Sakalasooriya and Jithendra Antonio

The engineering arm of Sumal Perera’s Access Group, Access Engineering, is raising Rs.4.5 billion in a private placement deal, Mirror Business learns. The offer officially opens today.

Back in March Mirror Business exclusively reported that Access Engineering is hoping to go public by end of May and the company was contemplating on a pre-IPO private placement.

However, it is now learnt that Access Engineering is offering 18.37% of the company or 180 million shares for private investors each share valued at Rs.25. This is the second largest private placement deal recorded after the Rs.4.9 billion Vallibel One private placement.

Following the private placement, it is anticipated that Access Engineering IPO will raise Rs.500 million by December this year, offering nearly 20 million shares at the same price of the private placement which is Rs.25.

As the Company will seek a listing on the CSE subsequent to the private placement, the shares held by placement parties would be subject to a ‘‘lock-  in’’ for a period of one year as per SEC regulation.

It is further learnt that Rs.600 million of the private placement proceeding will go to retire debts, improve working capital (about Rs.1 billion), finance property development and water management and hydro based electricity generation projects, engage in strategic investments and set up a leisure sector arm for the company.

The intended placement parties should apply for minimum Rs.10 million worth of shares (400, 000 shares) and in Multiples of 200,000 Shares i.e. for Rs. 5 million thereof.

Access engineering was incorporated in 2001 and functions as the holding company of Access Engineering Group which includes a fully owned subsidiary, Access Realties (Private) Limited (ARL). AEL carries out the Group’s engineering business whilst ARL owns, Access Towers which contributes to the major portion of its revenue through rental income.

The audited financial accounts of the company showed that firm’s revenue had increased from Rs.3.175 billion in the Financial Year 2010 to Rs.3.651 billion in Financial Year 2011. Subsequently, the company also reported a net profit of Rs.1.16 billion in 2011, up from Rs.850 million in 2010.

The accounts also outlined that Access Engineering’s assets are valued at Rs.5.7 billion to date and Net Asset Value Per Share (NAVPS) stands at Rs.5.43 whilst Earnings Per Share (EPS) is Rs.1.20. The company’s Price to forward Earnings Ratio is valued at 20.83 times while the price to Book Value is considered to be 4.6 times.

Access Engineering is a fully integrated engineering company operating in roads and highways, bridges and flyovers, water and waste water management, habours and marine works, dredging and reclamation, telecommunication, irrigation and land drainage, piling and environment and waste management sectors.

source - www.dailymirror.lk

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Laugfs mulls rights issue, listing subsidiaries

■ May list most of itssubsidiaries to raise funds

■ Aiming to catch post-war growth in auto industry

Reuters: Sri Lanka’s energy-led conglomerate Laugfs Gas  said it may go for rights issue or list its subsidiaries on the Colombo Stock Exchange to raise money for post-war expansion.

The fast-diversifying conglomerate, which has operations in LP gas, consumer and petroleum retailing, lubricants, leisure, and rubber products, has planned a number of new projects to capitalise on Sri Lanka’s post-war economic growth momentum.

“Raising fund is not an issue,” Laugfs Chairman W.K.H. Wegapitiya told Reuters in an interview. “We will go for rights issues and we will list some of our companies in the stock exchange. If possible, we will list almost all companies.”

However, when asked about the timing for rights issue and further maximum listing of 14 subsidiaries under its 18-firm group of companies, Wegapitiya said: “It is too early to say.”

Laugfs in August listed four firms via initial public offering, raising Rs. 2.5 billion ($ 22.7 million).
The firm posted a 90 per cent jump in its net profit of Rs. 1 billion for the year ended on 31 March.

Wegapitiya is aiming to double profits this year, capitalising on an influx of vehicles into Sri Lanka.

“We have some investments in negotiation which can’t be disclosed now and if they realise, we will surpass the Rs. 2 billion ($ 18.2 million) mark,” he said.

The firm is planning to build a 100-room five-star hotel on Sri Lanka’s north western coast with Rs. 850 million and a Rs. 450 million office-apartment complex in the capital Colombo, aiming to capture real estate and tourism growth.

It is also expanding its consumer retail business, hydropower, natural rubber product exports, and lubricant sales, he said.

source - www.ft.lk

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Accounts for the 3 months ended 31st march 2011 (Submited in week ended 2011-06-03)

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Annual Reports for the year ended 31st march 2011 (Submited in week ended 2011-06-03)

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Accounts for the year ended 31st march 2011 (Submited in week ended 2011-06-03) Part 2

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Accounts for the year ended 31st march 2011 (Submited in week ended 2011-06-03) Part 1

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CT Land to build three more new cinemas at MC

By Jithendra Antonio

 The CT Land Development PLC (CTLD), the owning company of Sri   Lanka’s   premier shopping mall-cum-entertainment complex is hoping to accommodate three more new Cinemas, the recent financials of the company outlined. 

 “The Company has commenced refurbishing and modifying the vacant 5th floor of the Majestic City Complex, to accommodate three more new cinemas,” Chairman of CT Land R. Selvaskandan highlights in his review adding that this project would cost approximately Rs.75 million.

 “The new cinemas would attract more customers to the Complex, especially at off peak times with the increased footfall benefiting other tenants as well.” According to Selvaskandan, the cinema space would be rented out to a cinema operator, resulting in increased rentals in excess of Rs. 12 million per annum.

 It is expected that the project would take about 6 to 9 months to complete and the new cinemas would be ready for operation in the latter part of the financial year 2011/12.

Selvaskandan in his review for the financial year ended 31 March 2011 points out that the net debt position of the Company has been reduced from Rs. 138.2 million at the end of the previous financial year to Rs. 89.7 million at the end of the current year. “This was a result of improved cash flow, resulting from increased revenue streams and additional security deposits on renewal of tenancy agreements.

He stresses that the company is gearing to utilize the opportunities afforded by the new business climate in the country, especially the demand for shopping and entertainment.

 The Company management is confident that business volumes of its tenants would continue to improve in the future, along with the country’s economic growth.

source - www.dailymirror.lk

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VALLIBEL ONE LIMITED LKR. 532,796,750 OFFER FOR SUBSCRIPTION

The CSE has approved in-principle an Application for listing the ordinary voting shares of the above Company for a Diri Savi Board listing. Further
details are as follows:

NUMBER OF SHARES TO BE OFFERED
Offer for Subscription of 21,311,870 Ordinary Voting Shares at a price of LKR. 25.00 per share.

DATE OF OPENING OF THE SUBSCRIPTION LIST
21st June 2011

MANAGERS TO THE OFFER
Acuity Partners (Private) Limited
No 53, Dharmapala Mawatha
Colombo 3
Tel: 2206206

REGISTRARS TO THE OFFER
PW Corporate Secretarial (Private) Limited
3/17, Kynsey Road
Colombo 8
Phone: 4640360

The date on which the Prospectus would be delivered to Member Firms / Trading Members would be 9th June 2011.

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BROWNS INVESTMENTS LIMITED LKR 250,000,000 OFFER FOR SUBSCRIPTION

The CSE has approved in-principle an Application for listing the ordinary voting shares of the above Company for a Diri Savi Board listing. Further
details are as follows:

NUMBER OF SHARES TO BE OFFERED
Offer for Subscription of 50,000,000 Ordinary Voting Shares at a price of LKR.5 per share.

DATE OF OPENING OF THE SUBSCRIPTION LIST
23rd June 2011.

MANAGERS TO THE OFFER
Taprobane Holdings Limited
No. 10, Gothami Road,
Colombo 8
Tel: 5328100

REGISTRARS TO THE OFFER
SSP Corporate Services (Pvt) Limited
No 101, Inner Flower Road,
Colombo 3
Tel: 2573894

The date on which the Prospectus would be delivered to Member Firms / Trading Members would be 13th June 2011.

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තවත් අගනා කොටස් නිකුතුවක් - වැලිබල් වන් ලිමිටඩ් (Vallibel ONE Limited)



දිවයිනේ ප්‍රකට ව්‍යාපරිකයකු මෙන්ම වර්තමානයේ ප්‍රවාහන අමාත්‍යංශයේ ලේකම් හා හිටපු අයෝජන මණ්ඩල සභාපතිවරයාද වන ධම්මික පෙරේරා මහතාගේ පෞද්ගලික අයෝජන ඒකාබද්ධ කර ආරම්භ කල වැලිබල් වන් සමාගම (Vallibel ONE Limited) කොටස් වෙළඳපලෙහි ලැයිස්තු ගත කිරීමට අවසර ලැබී ඇත.

මේ මුලික නිකුතුවක් (Initial Public Offering - IPO) මගින් අනුව රු 25 බැගින් වූ කොටස් 21,311,870 නිකුත් කර රු මිලියන 532.7ක් රැස් කිරීමට සමාගම බලාපොරොත්තු වේ. මුලික නිකුතුව ජුනි මස 21 වන දින ආරම්භ වන අතර ජුනි 9 වනසා සිට අයදුම්පත් යොමු කල හැකිය.

මේ වන විට සමාගම එල් බී ෆිනෑන්ස් පීඑල්සී (LB Finance PLC) සහ රෝයල් සෙරමික් ලංකා පීඑල්සී (Royal Ceramics Lanka PLC) සමාගම් වල 51%ක හිමිකාරිත්වය දරයි. එසේම සම්පත් බැංකුවේ (Sampath Bank PLC) 15%ක්ද මෙම සමාගම සතුවේ. එසේම ග්‍රීනර් වෝටර් (Greener Water Limited) නම් පුර්ණ අනුබද්ධ සමාගම යටතේ මීගමුව ප්‍රදේශයේ කාමර 382 කින් යුත් තරු පහේ හෝටලයක්ද ඉදිකෙරෙමින් පවතී. වැලිබල් වන් සමාගම ඉදිරියේදී විදුලිබල ක්ෂේත්‍රයේද අයෝජන සිදු කිරීමට බලාපොරොත්තු වේ.

වැඩි විස්තර ඉදිරියේදී බලාපොරොත්තු වන්න.

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Ceylon Cold Stores PLC Subdivision And Rights Issue Dates

SUBDIVISION OF SHARES - CCS   

CEYLON COLD STORES PLC
Company ID: CCS
Date of EGM: 30.June.2011
Sub Division based on the shareholding as at end of trading on: 12.Aug. 2011
Period of Dealing Suspension (Both days inclusive): 15.Aug.2011 to 17.Aug. 2011
Date of commencement of trading: 18.Aug.2011 


Rights Issue - CCS   

CEYLON COLD STORES PLC
Company ID: - CCS
Proportion: - One (01) new ordinary share for every ten (10) shares held
Issue Price: - Rs.300.00/-
Qty Offered: - 2,160,000
General Meeting & Provisional Allotment: - 30.June.2011
XR:- 01-July-2011
Dispatch of Provisional Letter of Allotment: - 07.July.2011
Rights Trading Commences on:- 13.July.2011
Renunciation:- 21.July.2011
Last Date of Acceptance & Payment:- 22.July.2011

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බ්‍රව්න්ස් ඉන්වෙස්ට්ම්න්ස් සමාගමත් කොටස් වෙළඳපලට

ශ්‍රි ලංකාවෙ ප්‍රමුඛ පෙලේ සමාගමක් වන බ්‍රව්න්ස් සහ සමාගමේ (Brown & Company PLC) ආයෝජන සමාගම වන බ්‍රව්න්ස් ඉන්වෙස්ට්ම්න්ස් සමාගම (Browns Investments Limited) කොටස් වෙළඳපලේ "දිරි සවි" පුවරුවේ ලැයිස්තු ගත කිරීමට අනුමැතිය ලැබී ඇත. මේ අනුව රු5 බැගින් වූ කොටස් මිලියන 50ක් නිකුත් කිරීමට නියමිතය. නිකුතුව (IPO) ජුනි මස 23 වනදා ආරම්භ වන අතර ජුනි මස 13 වනදා සිට අයදුම්පත් යොමු කල හැකිය.

මෙම සමාගම බ්‍රව්න්ස් සහ සමාගම (Brown & Company PLC) හා තැප්‍රොබේන්  හොල්ඩ්ංස් (Traprobane Holdings Private Limited) යන සමාගම් දෙකෙහි හවුල් ව්‍යාපාරයක් ලෙස දැනට පවතී. බ්‍රව්න්ස් ඉන්වෙස්ට්ම්න්ස් සමාගම දැනට හෝටල් , ඉදිකිරීම් හා වැවිලි යන අංශ වල අයොජන සිදු කර ඇත.
වැඩි විස්තර ඉදිරියේදී බලාපොරොත්තු වන්න.

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Retail investors ride on Nation Lanka

Around 8.5% stake or 17 million shares of Nation Lanka traded yesterday generating the biggest turnover of Rs. 535 million with retail investors stepping up what is perceived to be a crazy rush.

This was on top of 15.35 million shares traded for Rs. 457 million on Monday gaining by Rs. 2.10 or 7.66% whilst yesterday it rose by 8.47% or Rs. 2.50 to close at Rs. 31.90.

Among the sellers on Monday was new shareholder director J. Rudra of Malaysian origin who had sold 580,000 shares or 3.6% stake. Sources said that Rudra’s sale could be to book profit. March 31, 2011 closing price of Nation Lanka Finance was Rs. 11.10.

Following the recent private placement Rudra held an 11.4% stake amounting to 16 million shares. Other major shareholders of Nation Lanka are Asanga Seneviratne’s Investor, Access Equities, and Nawaloka Construction.

Following the private placement Investor Access Equities acting in concert with Nawaloka and Rudra (collectively holding 71.4%) made a mandatory offer of Rs. 5 per share which closed last week with an insignificant response.

National Lanka said recently the Company can now mobilize funds via the issuance of debt instruments under the Finance Leasing (Debt Instruments) Direction No 1 of 2007 of the Central Bank.

This is following the infusion of capital through the conclusion of the Rights Issue and Private Placements recently thereby complying with the Finance Leasing (Gearing Ratio) No 4 of 2006 of the Central Bank.

In the financial year ended March 31, 2010, the Company posted a net loss of Rs. 197.5 million, but lower in comparison to Rs. 734 million in the previous year. Group pre-tax loss was Rs. 184 .4 million, down from Rs. 1 billion in 2009/10. Net loss attributable to equity holders of parent was Rs. 236.7 million, down from Rs. 1 billion last year. Group assets as at March 31, 2011 amounted to Rs. 3.7 billion, lower in comparison to Rs. 6.1 billion a year earlier. Liabilities were down from Rs. 6.6 billion to Rs. 3.5 billion in FY2011.

Top banker Passa joins

Top professional banker Ajita Pasqual will be joining the Nation Lanka Finance Plc as a consultant from next week.

Until recently he worked as a consultant to Seylan Bank Board after he stepped down as the General Manager and CEO in end 2010.

The entry of Pasqual is expected to further help Nation Lanka Finance’s progression to a new level in the financial services industry. The company recently got a big boost with infusion of Rs. 800 million via a Rs. 500 million private placement and Rs. 300 million from a Rights Issue, both at Rs. 5 per share.

The former facilitated the entry of top fund manager and investor Asanga Seneviratne with a 50% stake along with Nawaloka Constructions and Malaysian investor J. Rudra.

Nation Lanka was formerly Ceylinco Securities and Financial Services Ltd., with interests in financial services and real estate and property.

Pasqual joined Seylan Bank in 2003 as the Additional Manager after serving global giant HSBC local operations for 22 years. He was appointed Director/General Manager/CEO in 2004.

He holds a Bachelor of Science Degree in Business Administration which he finished at Manchester College, North Manchester, Indiana, USA.

source - www.ft.lk

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