Business
Lanka Credit and Business Finance rings the bell to debut trading at CSE
The shares of Lanka Credit and Business Finance Limited (CODE: LCBF-N-0000) commenced trading on the Colombo Stock Exchange (CSE). The shares have been listed on the Diri Savi Board of the CSE under the ‘Diversified Financial Services – 4020’ sector. The occasion was marked with a special Bell Ringing Ceremony hosted by the CSE.
The listing follows a successful Initial Public Offering (IPO) by the company, through which it raised over Rs. 500 Mn. The issue set a robust cornerstone with an oversubscription on the initial day of its offer itself.
Chairman/Director Professor W.M. Abeyrathne Bandara and CEO / Executive Director . K.G. Leelananda represented Lanka Credit and Business Finance Limited. The CSE was represented by Chief Executive Officer Rajeeva Bandaranaike and Chief Regulatory Officer Renuke Wijeyawardhane. Director / Chief Executive Officer Darshan Perera and Chief Corporate Advisory Officer Nilendra Weerasinghe represented NDB Investment Bank Limited
CEO of the CSE, Rajeeva Bandaranaike, speaking at the ceremony, welcomed the company as the 287th listed company on the CSE. “We are happy to welcome today an established company in the financial services sector, with a history touching almost 60 years next year, to our Diri Savi Board of the Stock Exchange. LCB Finance is the 7th equity listing on the CSE and becomes the 35th Issue to be listed during the course of 2021. It is with a sense of pride and satisfaction that we note that the CSE is playing its role as a facilitator of capital and we are making a meaningful contribution to the economic activity in the country. For this year we have facilitated over Rs. 105 Bn worth of equity and debt capital to be raised through the market.”
Speaking at the event, Professor W.M. Abeyrathne Bandara, Chairman/Director of Lanka Credit and Business Finance Limited, remarked, “As we all know listing process is not a simple one, it is a complex process which requires lot of support and contribution from different parties, at different stages. No company can successfully complete their listing without receiving all the, support from different parties. We, as LCB Finance was fortunate to receive all this different support and contribution from different parties on a time even with a lot of restrictions and problems encountered by them, due to factors beyond their control, especially due to this COVID situation prevailed in Sri Lanka.”
Professor Bandara expressed his thanks and gratitude to the Chairman and the members of the board and the entire staff of the Securities and Exchange Commission of Sri Lanka (SEC), Chairman and the members of the board and the staff of the CSE, registrar companies and their staff, the advisors to the listing, CEO and the corporate staff members of the NDB Investment Bank, Corporate Services Pvt Ltd, Bankers to the listing Sampath Bank, brokering firms, print and electronic media and the team at LCB Finance for their support, dedication and commitment from the beginning to the end of the listing process.
Thanking the investors, he added “I must thank our valuable investors who kept confidence for the LCB Finance and made their investment in our shares. Their prompt and positive responses received was able to close the IPO within few hours of opening to the public on 26th October 2021.”
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
