In a move to raise capital for expanding its operations, Singhe Hospital Ratnapura will begin initial public offering on March 12.
The main objective of the IPO is to raise capital for new investments while maintaining the gearing ratio at optimal level.It is expected to raise Rs.250 m by issuing 100 m shares at Rs.2.50 each.The share issue amounts to 25% of the total shares and the banking partner of this venture will be the Bank of Ceylon while the Merchant Bank of Sri Lanka is managing the share issue.
"Singhe Hospital is in a competitive stance with any other leading private hospital in terms of facilities, technology and hospitality. The number of patients visiting the hospital is increasing day by day. It is a clear indication that Singhe Hospital is a trusted tertiary care institute providing top notch medical services not only in Sabaragamuwa but also in the island at large," Chairman A.M. Weerasinghe said.Singhe Hospital has recorded success in every sector within two years. Particularly, higher performance in finance, marketing and operations contributed in this respect. Currently Singhe Hospital records an annual turnover of more than Rs 220 m. In comparison to the first year of its operations this is nearly a 560% growth.
Singhe Hospital is the brainchild of A.M. Weerasinghe, the founder of Royal Ceramics fame. Many of Weerasinghe's business ventures saw tremendous success. Presently, he serves as a director of Royal Ceramics too. Previously he was the chairman of Royal Ceramics and LB Finance.
www.dailynews.lk
The main objective of the IPO is to raise capital for new investments while maintaining the gearing ratio at optimal level.It is expected to raise Rs.250 m by issuing 100 m shares at Rs.2.50 each.The share issue amounts to 25% of the total shares and the banking partner of this venture will be the Bank of Ceylon while the Merchant Bank of Sri Lanka is managing the share issue.
"Singhe Hospital is in a competitive stance with any other leading private hospital in terms of facilities, technology and hospitality. The number of patients visiting the hospital is increasing day by day. It is a clear indication that Singhe Hospital is a trusted tertiary care institute providing top notch medical services not only in Sabaragamuwa but also in the island at large," Chairman A.M. Weerasinghe said.Singhe Hospital has recorded success in every sector within two years. Particularly, higher performance in finance, marketing and operations contributed in this respect. Currently Singhe Hospital records an annual turnover of more than Rs 220 m. In comparison to the first year of its operations this is nearly a 560% growth.
Singhe Hospital is the brainchild of A.M. Weerasinghe, the founder of Royal Ceramics fame. Many of Weerasinghe's business ventures saw tremendous success. Presently, he serves as a director of Royal Ceramics too. Previously he was the chairman of Royal Ceramics and LB Finance.
www.dailynews.lk
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