Browns Beach Hotels is to raise Rs. 1.4 billion via a rights issue, the company said in a stock exchange.
The company will issue 54 million new ordinary shares at Rs 25.85 each subject to necessary approvals at an Extraordinary General Meeting of the Company.
The objective of this rights issue would be to re invest it to minimise the existing debt of the company and also to re build the hotel. The new hotel construction work was done under, Negombo Beach Resort (Pvt) Ltd, a fully owned subsidiary of Browns Beach Hotels PLC.
The company will issue 54 million new ordinary shares at Rs 25.85 each subject to necessary approvals at an Extraordinary General Meeting of the Company.
The objective of this rights issue would be to re invest it to minimise the existing debt of the company and also to re build the hotel. The new hotel construction work was done under, Negombo Beach Resort (Pvt) Ltd, a fully owned subsidiary of Browns Beach Hotels PLC.
www.dailynews.lk
No comments:
Post a Comment