Sri Lanka’s Anilana Hotels and Properties Limited is to raise Rs 767 million, by way of Rights to existing shareholders to finance the balance construction of a hotel project in Dambulla, Sri Lanka and settle existing debt, the company said in a Colombo Stock Exchange announcement.
The company plans to issue upto 109,624,114 ordinary shares at a price of Rs. 7 per share, to the existing shareholders, in the proportion of two new ordinary shares for every seven ordinary shares held.
Approximately 600 million rupees of the funds raised would be utilized to finance the balance construction of the Dambulla hotel project, which is currently carried out under Dambulla Hotel Resort and Country Club (Pvt) Limited, a fully owned subsidiary of the company and to retire approximately 167 million rupees of the existing debt of the company.
The current stated capital of the company is 3,095,892,850 rupees represented by 383,684,400 ordinary shares.
The company plans to issue upto 109,624,114 ordinary shares at a price of Rs. 7 per share, to the existing shareholders, in the proportion of two new ordinary shares for every seven ordinary shares held.
Approximately 600 million rupees of the funds raised would be utilized to finance the balance construction of the Dambulla hotel project, which is currently carried out under Dambulla Hotel Resort and Country Club (Pvt) Limited, a fully owned subsidiary of the company and to retire approximately 167 million rupees of the existing debt of the company.
The current stated capital of the company is 3,095,892,850 rupees represented by 383,684,400 ordinary shares.
The firm is currently operating three properties in Pasikuda, Nilaveli and Nuwara Eliya and is planning several more.
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