Prime Lands Residencies Limited is scheduled to be listed on the Diri Savi Board of the Colombo Stock Exchange(CSE) with effect from 08th June 2021. The company will be listing 937,500,000 Ordinary Voting Shares and will be classified under the Industry Group “Real Estate (6010)”.
The listing of Prime Lands Residencies Limited is followed after a successful Initial Public Offering (IPO) held on 11th May 2021. The IPO of 100,000,000 shares at Rs. 10.40 per share was oversubscribed on the initial day itself and raised Rs. 1.04 Bn. Accordingly, the company decided to exercise the option to issue up to another 87,500,000 Ordinary Voting Shares of the Company at Rs. 10.40 per Share and raised a total amount of Rs. 1.95 Bn.
“I want to say that we recognise the importance of meeting shareholder expectations, and delivering long-term shareholder value, which is fundamental for a listed company and furthermore we believe that together with the investing public, we can continue to spur the nation’s growth story,” Prime Group Chairman Premalal Brahmanage said.
CDS signs up with Lanka IOC to act as Registrar
The Central Depository Systems (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), recently signed a service agreement with Lanka IOC PLC as the registrar for Lanka IOC PLC, with effect from 01st of January 2023. Lanka IOC PLC, with a corporate history spanning 20 years, is the only private sector auto fuel retailer in Sri Lanka. Over the years, the company has made a significant impact on the socio-economic landscape by enabling mobility, economic activity, and development. With an island-wide footprint of 213 retail outlets, the company services 12% of the country’s retail fuel demand.
Reasoning on appointing CDS, as the Registrar for Lanka IOC PLC, its’ Managing Director, Manoj Gupta, said, “we engaged CDS to conduct our virtual annual general meetings during the period of COVID 19 pandemic where all listed companies were not in a position to convene any physical meeting as it was most essential to maintain social distance. We found the services rendered to us by CDS were highly satisfactory. Thus, we are happy to appoint CDS as the Registrars of the company.” “CDS has provided the service of handling the dividend payments to shareholders consecutively for the last
three years and carried out the functions in a very good manner, coordinating well with the bankers and shareholders,” added the Company Secretary of Lanka IOC PLC, Ms. Amali Liyanapatabendi
SLT-MOBITEL honoured at Asian Technology Excellence Awards 2022
Reiterating its leadership in innovative broadband deployment solutions, SLT-MOBITEL, the National ICT Solutions Provider was honoured with the prestigious ‘Technology Excellence Award for Network and Broadband – Telecommunications’ at The Asian Technology Excellence Awards 2022. The recognition is in appreciation of SLTMOBITEL’s innovative use of LTE 850MHz broadband solution which provides extensive coverage to rural areas of the country.
Understanding the need to provide superior rural connectivity to support the nation’s ongoing digital transformation and bridgingn the digital divide, SLT-MOBITEL’s innovative LTE 850MHz network strategically combined the underutilized spectrum from obsolete CDMA fixed line operations and forfeited its resources to obtain a new noninterfered 5MHz band for 4G LTE deployment from The
Telecommunication Regulatory Commission of Sri Lanka (TRCSL). This enabled, SLT-MOBITEL to significantly enhance rural connectivity across Sri Lanka, empowering every Sri Lankan to avail the benefit of SLT-MOBITEL’s Sub1GHz 850MHz LTE network especially during Covid-19 travel restrictions where broadband had become a necessity for everyone. In addition, SLTMOBITEL’s LTE 850MHz solution recovered valuable national spectrum resources which was interfered and exhausted earlier. With the coverage enhancement the mobile arm was able to connect an additional 700,000 subscribers who did not have access to broadband services earlier. With the LTE 850MHz deployment, SLT-MOBITEL was able to further bolster its support during COVID-19, providing rural communities especially the school children, people who worked from home and national authorities to immediately respond to Covid-19 emergency situations, thereby narrowing Sri Lanka’s digital divide
Lingering debt-restructuring worries trigger share market volatility
By Hiran H.Senewiratne
CSE trading was characterized by a marked degree of volatility yesterday. The CSE started trading on a positive note but by mid-day the market had turned negative, only to register some recovery during the latter part of the day. But the recovery could not be fully sustained, market analysts said. Market volatility could be traced to the worry among traders that the Chinese government is yet to respond
positively to the Sri Lankan government’s debt restructuring plan, although the Chinese Exim Bank responded positively to the IMF bailout proposition, analysts said. Stock market mid- day shares fell on
profit- taking after the market had continuously been on green after debt restructuring assurances by major creditors, an analyst said. “However, the anticipated rate cut wasn’t met and the
market over- reacted and moved to red, the analyst added.
Amid those developments both indices indicated a downward trend.The All- Share Price Index went down by 11.5 points and S and P SL20 declined by 2.78 points. Turnover stood at Rs 1.2 billion with two crossings. Those crossings were reported in Melstacorp, where 594,000 shares crossed to the tune of Rs 29.7 million, its shares traded at Rs 50 and Horana Plantations 300,000 shares crossed for Rs 21 million, and its shares traded at Rs 70. In the retail market, top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 269 million (1.3 million shares traded),Softlogic Life Insurance Rs 147 million (1.3 million shares traded), Softlogic Capital Rs 122 million (eight million shares traded), LOLC Holdings Rs 71.9 million (158,000 shares traded), Expolanka Holdings Rs 54.4 million (289,000 shares traded), Browns Investments Rs 41.9 million (six million shares traded) and JKH Rs 41 million (298,000 shares traded). It is said that high net worth and institutional
investor participation was noted in Agstar, Melstacorp and JKH. Mixed interest was observed in Lanka IOC, Expolanka Holdings and LOLC Holdings, while retail interest was noted in LOLC Finance, Browns Investments and Softlogic Capital.
The Materials sector was the top contributor to the market turnover (due to Agstar), while the sector index gained 0.18 per cent. The share price of Agstar increased by 50 cents (3.23 per cent) to
close at Rs.16. The Diversified Financials sector was the second highest contributor to the market turnover (due to LOLC Holdings), while the sector index increased by 2.16 per cent. The share price of LOLC Holdings appreciated by Rs. 21.75 (5.11 per cent) to close at Rs. 447.25. During the day 41 million share volumes changed hands in 14000 transactions.
Haiti police riot after crime gangs kill 14 officers
Gold-covered mummy among latest discoveries in Egyptian tomb
Fairly heavy showers in Sabaragamuwa, Central provinces and Ampara, Baticaloa and Badulla districts
‘Dates have the highest sugar content to fight Coronavirus’
Sunday Island 27 December – Headlines
U.S. Congress to probe assets fleecing by US citizens of Sri Lankan origin
Opinion4 days ago
Private tuition Mafia and indifferent Education Ministry
Features4 days ago
First appearance in Toronto, Canada
Business4 days ago
Kumar celebrates ten years in Corporate Etiquette training
Features6 days ago
BURGHER LIGHTS OF SRI LANKA
News7 days ago
Renewable energy, India extends hand to Sri Lanka
Business6 days ago
Income Tax, Professionals and Migration
Life style6 days ago
The truth about Japanese tempura
Features6 days ago
Death and tourism on the island of Bali – A true short story