Durdans Comes Out

Durdans Hospitals is planning to go public next month.
The hospital started in 1945, as one of the first private healthcare ventures in the island, will seek to raise Rs. 240 mn through the IPO.rn

rnThe money will go towards adding more floor space and upgrading equipment at the hospital.rn

rnThe shares will be issued at a premium according to Durdans chairman Ajith Tudawe.rn

rnAround 25 percent of the hospitals shares will be publicly held if the IPO is fully taken up.rn

rnLead managers to the issue DFCC Bank and Commercial Bank say they will seek Colombo Stock Exchange approval for the shares to be listed.rn

rnDurdans reported a post tax profit of over Rs. 60 mn during the last financial year.rn