Category: Companies
Hayleys employees benefit from share trust dissolution
Sept 13, 2015 (LBO) – Employees of Hayleys PLC will benefit from the dissolution of its Employees’ Share Trust and hold shares worth around a billion rupees, an official said.The trust was set up to fight a takeover bid by the Carsons Group, and according to the company, was allotted 2.4 million ordinary shares of […]
Sri Lanka hoteliers cannot work in isolation, says Keells Deputy Chairman
Sep 10, 2015 (LBO) – Sri Lanka hoteliers alone cannot make the industry to grow but with collaboration we can, Ajit Gunewardene, deputy chairman of John Keells Holdings said. “Tourism is a massive industry and we have barely begun. Before we destroy what is great, we believe this is the time to create something unique […]
Sri Lanka’s John Keells to double hotel rooms over next 5 years
Sep 09, 2015 (LBO) – Sri Lanka’s John Keells Holdings plans to double its current 2,200 room capacity in the next 5 years, Ajit Gunewardene, the deputy chairman said.This includes the 800 rooms of Cinnamon Life iconic that the group is building. “By the middle of next year we would be constructing approximately 400 to […]
ICRA Lanka assigns BBB rating for EAP Broadcasting
Sep 08, 2015 (LBO) – ICRA Lanka Limited has assigned an Issuer rating of BBB for EAP Broadcasting Company with a stable outlook on the rating. The full text of the rating is reproduced below. ICRA Lanka assigns [SL]BBB rating with Stable outlook to EAP Broadcasting Company Limited ICRA Lanka Limited, a wholly owned subsidiary of […]
Exercising of JKH 2015 warrants to commence from 29 Sept
Sep 07, 2015 (LBO) – Sri Lanka’s conglomerate John Keells Holdings on Monday said the exercising of 2015 warrants of the company will commence from 29 September till the expiration date of 12 November 2015.The purchase price of a warrant is 161.87 rupees per ordinary share, and each warrant shall entitle the warrant holder to […]
Orient Finance gets Central Bank approval for listing, IPO
Sept 07, 2015 (LBO) – Orient Finance PLC says the Central Bank of Sri Lanka has granted it approval to list shares on the Colombo Stock Exchange.The company said the listing would be by way of an Initial Public Offering, subject to approval from the Colombo Stock Exchange.Orient Finance was formerly known as Bartleet Finance.
Depreciation will help some equity sectors, ease uncertainty: Bartleet Religare
Sept 06, 2015 (LBO) – Sri Lanka’s depreciation last week will help export-related stocks and banks listed on the market, Bartleet Religare Securities said. From a foreign investors’ point of view, the depreciation takes away uncertainty that has been weighing on the market. “Foreign investors saw the devaluation coming and some did exit. Others didn’t […]
Sri Lanka HNB Senior and Subordinated Debt gets AA-, A+ ratings :Fitch
Sep 04, 2015 (LBO) – Fitch Ratings has assigned Hatton National Bank proposed senior unsecured and subordinated debentures a expected National Long-Term Ratings of ‘AA-(lka)(EXP)’ and ‘A+(lka)(EXP) respectively. Full Statement follows: Fitch Ratings has assigned Hatton National Bank PLC’s (HNB; AA-(lka)/Stable) proposed senior unsecured and subordinated debentures expected National Long-Term Ratings of ‘AA-(lka)(EXP)’ and ‘A+(lka)(EXP) […]
Sri Lanka’s Bank of Ceylon to sell Rs8 bn debt, AA rating
Sep 04, 2015 (LBO) – Sri Lanka’s Bank of Ceylon, state run bank is to sell up to 8.0 billion rupees of 5 and 8-year subordinated debt which have given final National Long-Term Rating of ‘AA(lka)’, Fitch Ratings said. The full statement given below :- Fitch Ratings has today assigned Bank of Ceylon’s (BOC; AA+(lka)/Stable) […]
Fitch Maintains Ceylon Income Fund on Rating Watch Negative
Sep 03, 2015 (LBO) -Fitch Ratings said it has maintained the ‘(A(lka))’ National Fund Credit Quality Rating of the Ceylon Income Fund on Rating Watch Negative(RWN) due to an increase in proportion of assets rated by another rating agency after redemptions. “The maintenance of the RWN is driven by an increase in the proportion of […]
Eden Hotel Lanka to raise Rs1.05bn through rights issue
Sep 03, 2015 (LBO) – Eden Hotel Lanka, a leisure sector player is to raise 1.05 billion rupees by way of a rights issue, the company said in a stock exchange filing. Subject to the necessary approvals, the company is to issue 52.8 million ordinary shares at 20 rupees each in the ratio of one […]
Sri Lanka gearing up for period of continuous growth: Softlogic Stockbrokers
Sep 03, 2015 (LBO) – Sri Lanka is heading into a decisive phase and we expect continuous growth in the island for the next few years through consistent government policy, a senior stockbroker said.“I think this is a critical phase for the country and we are looking at a new horizon,” Dihan Dedigama, Chief Executive […]