Business
Sanasa Development Bank announces secondary public offering of its shares
By Hiran H.Senewiratne
Sanasa Development Bank has announced a secondary public offering of its shares subject to certain terms and conditions. Under this the company will issue 88 million new shares to the public to raise Rs 4.55 billion to meet capital requirements and to expand its operational activities, stock market analysts said.
Accordingly, out of the total shares 50 percent has been allocated for identified investors, 37.5 percent for existing investors and the balance for the other interested parties. Its share price has been valued at Rs. 51.50.
Meanwhile, the stock market witnessed some selling pressure in the early part of yesterday due to the fluctuation of LOLC Development Finance share price. Due to selling pressure its share price was more subdued than on the previous day which created a negative impact on the market. However, during the latter part of the day LOLC Development Finance share price appreciated by 25 percent or Rs 64. Its share price started trading at Rs 256.25 at the end of the day and it shot up to Rs 325.25.
Amid those developments, both indices moved downward. All Share Price Index was down by 1.57 points and S&P SL20 down by 2.05 points. Turnover stood at Rs 1.55 billion sans a single crossing.
In the retail market, the top five companies that mainly contributed to the turnover were Expolanka Rs 139.2 million (2.8 million shares traded), Commercial Bank Rs 124.8 million (1.4 million shares traded), LOLC Rs 103.6 (258,000 shares traded), HNB (Non Voting) Rs 83.6 million (762,000 shares traded) and Dipped Products Rs 80.5 million (1.55 million shares traded).
Two companies, mainly Bukit Darah and Carsons, witnessed a drop in their prices after making an announcement that both companies had no price sensitive information. Carson’s share price depreciated by 14 percent or Rs 50.50. Its share price started trading at Rs 355.50 and at the end of the day it had come down to Rs 305 and Bukit Darah share price depreciated by 13 percent or 44.50. Its share price started trading at Rs 360.50 and at the end of the day it pulled down to Rs 315.
During the day 62.2 million share volumes changed hands in 19575 transactions.
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.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
