Sri Lanka’s Jetwing plans Rs5bn equity raising: report

June 27, 2011 (LBO) – Sri Lanka’s Jetwing Leisure group plans a raise 5.0 billion rupees for expansion through a private placement and an initial public offer, as tourist arrival rise after a war, officials and reports said.

It also runs Vil Uyana in Sigiriya and Hunas Falls in off Kandy in the central hills.

The company also manages two hotels in Vietnam and Laos.

The report said the group now owns or manages 530 rooms across the country. Officials said over the next two years, Jetwing planned to add 500 more rooms.

It was planning to build a 1.5 billion rupees 98-room to replace Yala Safari Lodge destroyed during a 2004 tsunami.

The group is planning properties in the East where a 30-year war ended two years ago.

“We are really excited about the East and we want to build in Trincomalee, Arugam Bay and Pasikudah,” Cooray said.

“We think there is lot of potential in the East.”

It is looking at building a 750 million rupees resort in Pasikudah in the Eastern coast.

“We are looking at 50 rooms in the first phase and another 30 in the second,” managing director of Jetwing Hotels, Ruwan Samarasinghe said.

The group had earlier said it wanted to build a 60-room hotel in Jaff