Business
Agarapatana Plantations debuts trading on the CSE
The shares of Agarapatana Plantations Limited (CODE: AGPL-N-0000) commenced trading on the Colombo Stock Exchange (CSE) on 04th September 2023. The shares have been listed on the Diri Savi Board of the CSE under the Food, Beverage & Tobacco sector. The occasion was marked with a special Bell Ringing Ceremony.
The company’s Initial Public Offering (IPO) for 83,070,111 ordinary voting shares has been oversubscribed at an issue price of LKR 9.00 per share.
The event was attended by Agarapatana Plantations Ltd. (APL), Chairman, S.D.R. Arudpragasam, Managing Director, Sunil Poholiyadde, APL Director and CSE Former Chairman, Ajit Jayaratne, Chief Executive Officer (CEO), Denham Madena, Finance Director, Kowdu Mohideen, senior representatives of APL and Manager to the Issue, Capital Alliance Partners Limited’s CEO, Nishok Goonasekera, Vice President/Head of Equity Capital, Ashvanth Vijayaram, and staff of Capital Alliance Partners Limited.
The CSE was represented at the event by its Chairman, Dilshan Wirasekara, CEO, Rajeeva Bandaranaike, Chief Regulatory Officer (CRO), Renuke Wijayawardhane, Chief Information Officer (CIO), Chandrakanth Jayasinghe, and the CSE Senior Management and staff.
Delivering opening remarks, CSE Chairman Dilshan Wirasekara congratulated Agarapatana Plantations Ltd. on its initiative to go public. “Today is a special day for Agarapatana Plantations Ltd. and for the CSE, as this is the second listing of the year. The IPO was oversubscribed on the initial day itself, within a couple of hours. This shows the investor appetite and the value that the company represents.”
Wirasekara further said, “We know that APL, a subsidiary of Lankem Developments PLC, is at the forefront of the tea industry as one of the largest tea producers in Sri Lanka. And I think it makes a significant contribution to forex generation in Sri Lanka.”
“We are very happy to have APL listed on the CSE, and we hope this will encourage more companies to list on the CSE. Listing would further enhance your value in terms of corporate governance practices and public disclosure of company information.”
Thanking the CSE and Capital Alliance Partners Ltd. for their support and encouragement in enabling the public issue of the company, S.D.R. Arudpragasam, Chairman of APL, stated, “The listing marks a significant milestone in the history of the company since its privatization in 1992. As we become listed, we recognize the responsibilities that come with these rules. We understand the market demands transparency, accountability, and a relentless focus on creating and delivering value. Our presence on this esteemed platform is a testimony to the trust and confidence that our new shareholders have placed in us, which is also a reflection of the confidence in the plantation sector and the equity markets.”
“In the last few years, we changed the way we manage our plantations. We have accepted the need to think differently and embrace the growth changes as a new reality, one that is defined by innovation and the pursuit of excellence and growth,” added Arudpragasam.
He further said, “Our success should not be measured solely on financial terms but also by the positive impact we create in the communities in which we operate. We are also committed to sustainable practices that benefit not only our shareholders but also the environment and society at large. Our listing is a commitment for our future, in which we drive growth through responsible business practices.”
APL is one of the few mono-crop companies in the plantation sector, with all of the tea extent located in the “High Grown” districts of Nuwara Eliya and Badulla.
The Company has plantations located in the Agras Valley and Uva regions in Sri Lanka, and the properties held by APL include historical properties like Dambatenne Estate.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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