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Tue, 02 September 2014 15:44:26
Sri Lanka Asha hospital key shareholder mulls exit
17 Aug, 2007 18:25:26
August 17, 2007 (LBO) – Asha Central Hospitals said Friday several parties were negotiating to buy the controlling stake of the firm after its share price more than doubled to 80 rupees over the week.
More than 80 percent of the company is held by Euroam Management Services Ltd, an entity which is controlled by the family of Dr Neville Fernando, the firm's managing director.

Asha Central gained 33.75 peaking at 80.00 rupees Friday extending gains made over the week, until trading was halted pending an announcement.

On Monday the share traded as low as 38.00 rupees.

The firm had been chased by punters on speculation that the Stassens group, John Keells Holdings, Softlogic or Hemas was interested in buying it.

Earlier Asha Central advertised for sale its building and land in Horton Place with plans to shift to a new location on Norris Canal Road.

However the latest statement indicates that the Fernando family is planning to exit the hospital firm, traders said.

The book value of the share is 43 rupees as at March 2007. It had 291 perches of land last revalued June 27, 2005.

The firm later bought the property in Norris Canal Road with borrowed funds.

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READER COMMENT(S)
2. Das Samuel Aug 22
This only shows that private health care is most profitable in sri lanka.

The rich go to private hospitals & the 'not so rich' to one of the 25,000 quacks for quick cures.

State hospitals are shunned by all, except by the really poor people.

Politicians who extol the glories of ayurveda, never go to ayurvedic hospitals, when they fall sick.

Private health care is a booming financial investment right now.

1. j Aug 22
I must commend both main parties involved on their transparancy and Decency on this issue.

Thank You and congrats on ensuring openess as well as truthfulness on being open and sincere with all of us. You have set a good example at a perfect time unlike certain companies that where raided unscrupulously in the recent past.

I do hope the securities exchange will reward you for your honesty.

Our business Society stinks of dishonesty, corruption and injustice which seems to have been endorsed and encouraged, But you have stood out brilliantly.
Well done