The shares are being placed among selected investors at 10 rupees, an official told LBO.
Hemas last week also announced plans to enlist a second batch of nursing students at its School of Nursing at Delpe in Ragama.
Nurses who graduate from the Hemas Nursing School would be absorbed into the Wattala and Galle hospitals.
CEO Hemas Hospitals chief executive Kithsiri Edirisinghe says that the new batch will undergo an intensive 3-year training program.
“Run by the Associated College of Health Sciences (ACHS), the Nursing School’s first batch comprises 70 male and female student nurses who will soon complete their first year’s training," Edirisinghe said in a statement.
"Conducted according to a curriculum approved by the Ministry of Health and formulated to international standards, the main objective of this programme is to train nurses who are technically sound and with caring personalities.”
The Southern Hospital in Galle now has 20 beds and will be upgraded to a 50 bed general hospital by March 2008, the company said.
It is now visited by over 40 consultant specialists catering to the medical, surgical, obstetrics, dermatology, paediatrics, eye, ENT and neurology areas.
The company says the new hospital will have state-of-the-art operating theatres, an intensive care unit, a medical laboratory, radiology facilities, a dialysis unit and a labour unit.
The 1.5 billion rupee hospital in Wattala, which is scheduled to open in August 2008, aims to provide "affordable" health services to fast growing suburban communities with a packaged pricing model, the company said earlier in the year.
Hemas Holdings Ltd is one of Sri Lanka's top conglomerates with a focus on five key sectors - FMCG, Healthcare, Transportation, Leisure and Strategic Investments.
