Monthly Archives: February 2011

John Keells Holding PLC announced 2nd interim Dividend
Colombo Stoke Exchange [CSE] Today

John Keells Holding PLC announced 2nd interim Dividend

John Keells Holding PLC announced 2nd interim Dividend
About
23rd February the John Keells Holding PLC announced 2nd interim dividend of Rs.1.00 per share. The Dividend is for the financial year of 2010/2011.
The company further says the Ex-Dividend date will be 7th March 2011 and the payment will be made on 16th March 2011.
1st interim Dividend
In 10th November 2010, the JKH announced their 1st interim Dividend of Rs.1.00 per share for the same financial year 2010/2011.
About the John Keells Holding PLC
The John Keells Holding PLC established on 1979 and Quoted in Colombo Stock Exchange in 1986. The company is in the business of tea exports, insurance, Pest control, industrial & agro Holding company chemicals, treatment of timber, management of plantations, travel & tourism, plantation management.
The John Keells Holding PLC is in much diversified business and a very reputed company in Srilanka. It’s almost respected by all stakeholders in relation with them.
Source: http://www.cse.lk/companiesprofile/announcments.htm?id=297&symbol=JKH.N0000

Sri Lanka Telecom PLC announced first and final Dividend
Colombo Stoke Exchange [CSE] Today

Sri Lanka Telecom PLC announced first and final Dividend

Sri Lanka Telecom PLC announced first and final Dividend
About
24th February the Sri Lanka Telecom PLC announced first and final Dividend of Rs.0.60 per share. The Dividend is for the financial year of 2010.
The company further says the Ex-Dividend date will be 29th March 2011 and the payment will be made on 4th April 2011.
The Dividend announcement is subjective to the shareholders approvals at the Annual general meeting held in 28th March 2011.
Source: http://www.cse.lk/companiesprofile/announcments.htm?id=556&symbol=SLTL.N0000

Commercial Development Company PLC announced final Dividend
Colombo Stoke Exchange [CSE] Today

Commercial Development Company PLC announced final Dividend

Commercial Development Company PLC announced final Dividend
About
24th February the Commercial Development Company PLC announced Final Dividend of Rs.1.00 per share. The Dividend is for the financial year of 2010.
The company further days the Ex-Dividend date will be 9th May 2011 and the payment will be made on 19th May 2011.
The Dividend announcement is subjective to the shareholders approvals at the Annual general meeting held in 6th May 2011.
About the Company
The Commercial Development Company PLC established on 1980 and quoted in Colombo Stock Exchange at 1983. The company is in the business of Property developers and related Activities.

Source: http://www.cse.lk/companiesprofile/announcments.htm?id=490&symbol=COMD.N0000

Colombo Dockyard PLC announced First and final Dividend
Colombo Stoke Exchange [CSE] Today

Colombo Dockyard PLC announced First and final Dividend

Colombo Dockyard PLC announced First and final Dividend
About
24th February the Colombo Dockyard PLC announced the First and final Dividend of Rs.8.00 per share. The Dividend is for the financial year of 2010.
The company further days the Ex-Dividend date will be 8th March 2011 and the payment will be made on 17th March 2011.
About the Company
The Colombo Dockyard PLC established on 1982 and quoted in Colombo Stock Exchange at 1983. The company is in the business of Ship repairs, shipbuilding and heavy engineering work for the international market as well as for the domestic market.
The company has a very successful track record of developing ships and repairs in the recent year. And this is the single company is in Srilanka for ship building and repairs.

Source: http://www.cse.lk/companiesprofile/announcments.htm?id=267&symbol=DOCK.N0000

Free Lanka Capital Holding Limited offer for subscription [IPO]
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Free Lanka Capital Holding Limited offer for subscription [IPO]

Free Lanka Capital Holding Limited offer for subscription [IPO]
About
The Colombo Stock Exchange approved in Principle application for listing the ordinary voting shares of the Free Lanka Capital Holding Limited for a Diri Savi Board listing.
Offer
The Free Lanka Capital Holding Limited offers their offer for subscription of 300,000,000 ordinary voting shares at the price of Rs.5.00 each. In total the Free Lanka Capital Holding Limited expected to rise Rs.1.5 Billion [1,500,000,000].
The Free Lanka Capital Holding Limited IPO prospectus will be available in every members firm or trading member on 7th March 2011.
Source: http://www.cse.lk/cmt/upload_cse_announcements/9051298375637_.pdf

E-Channelling PLC announced Sub-Division of shares
Colombo Stoke Exchange [CSE] Today

E-Channelling PLC announced Sub-Division of shares

E-Channelling PLC announced Sub-Division of shares
About
The E-Channelling PLC announced to Colombo Stock Exchange, that the Board of Directors of E-Channelling have resolve to effect a subdivision of shares of the company as Each Share into a 7 Ordinary shares.
The subdivision will increase the 17,447,345 ordinary shares to 122,131,415 shares. The subdivision won’t affect the stated capital or Ownership of the shareholders.
Company further says that subdivision is subjective to shareholders approvals at an extraordinary general meeting by the way of an ordinary resolution.
Source: http://www.cse.lk/cmt/upload_cse_announcements/5051298371176_.pdf

The Finance company PLC announcement
Colombo Stoke Exchange [CSE] Today

The Finance company PLC announcement

The Finance company PLC announcement
About
The Finance company PLC announced to the Colombo Stock Exchange that the Companies Ordinary Nonvoting shares of 100 Million [100,000,000] will be listed in 1st March 2011.
The Finance company PLC Ordinary Nonvoting shares denoted as TFC.X.0000.
Source: http://www.cse.lk/cmt/upload_cse_announcements/8571298619885_.pdf
http://synergyy.com/2011/01/the-finance-company-public-share-issue/

Union Bank IPO Oversubscribed by 225 times
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Union Bank IPO Oversubscribed by 225 times

Union Bank IPO Oversubscribed by 225 times
About
The CSE website published an announcement of the Union Bank oversubscribed by the 225 times approximately.
The Union bank announced IPO and issued 15 Million Ordinary shares at the Price of Rs.25 each. As per 25th February 2011, there is 30,100 Applications Applied 3.375 Billion shares [3,375,458,700].
The 30,100 applicants applied Rs.84.386 Billion on Union Bank IPO. It’s almost the 225 times of the initial Public offerings.
Source: http://www.cse.lk/cmt/upload_cse_announcements/3421298624428_.pdf
http://synergyy.com/2011/02/union-bank-of-colombo-limited-%e2%80%9cthe-company%e2%80%9d-offers-for-subscription-ipo/
http://synergyy.com/2011/02/union-bank-of-colombo-limited-ipo/

People Leasing Finance PLC announced Rights issue
Colombo Stoke Exchange [CSE] Today

People Leasing Finance PLC announced Rights issue

People Leasing Finance PLC announced Rights issue
About
25th February 2011, the Board of Directors of the People Leasing Finance PLC announced to the Colombo Stock Exchange, the Board Resolve to recommend to the shareholders of the company rights of 1 new ordinary share for every 2 ordinary shares held by each exiting shareholders.
22,713,639 ordinary shares are issue as rights at the price consideration of Rs.25 each. The company feather says the purpose of the Rights is to be
• To be compliance with the capital adequacy of the Finance Companies act.
• To expand the Business activities of the company.
Summary
Rights : 1 new Ordinary share for 2 Ordinary share shares held
Price/ consideration : Rs.25 each
Number rights : 22,713,639 Ordinary shares
Current Stated capitals : Rs.819, 938,823

Source: http://www.cse.lk/cmt/upload_cse_announcements/601298632993_.pdf

CSE today
Colombo Stoke Exchange [CSE] Today

CSE today

CSE today
About
Today 21st March 2011, the Colombo Stock Exchange indicated with Red rather than the green.
Today All share Price index indicate depreciation of 55.30 points and closed at 7,617.19. The Milanka Price index is depreciated by 2.83 Points and closed at 7,239.32.
In overall listed companies in CSE; 67 listed entities contribute positively and 122 companies are contribute negatively to the market.
My Hopes
Anyhow these fluctuations are not affecting the long term investors rather than the active traders. But I personally hope these negative contributions are also good sign for the investors take decision on investments.
Source: http://www.cse.lk/cmt/upload_cse_report_file/daily_report.pdf

United Motors Lanka PLC Sale and Purchase agreements
Colombo Stoke Exchange [CSE] Today

United Motors Lanka PLC Sale and Purchase agreements

United Motors Lanka PLC Sale and Purchase agreements
About
The United Motors Lanka PLC announced to the Colombo Stock exchange, that the company entered into a sales and purchase agreement with People’s venture Investment Company (Private) Limited a Member of the Janashakthi Group of Companies to dispose of the entire share holding of united Motors Lanka PLC in Orient Finance services Corporation limited amounting to 23,999,995 shares for total Consideration of Rs.23 Millions.
Source: http://www.cse.lk/cmt/upload_cse_announcements/4391298290598_.pdf

Nations Trust Bank PLC Dividend Announcement
Colombo Stoke Exchange [CSE] Today

Nations Trust Bank PLC Dividend Announcement

Nations Trust Bank PLC Dividend Announcement
About
Today 21st February 2011, the Nations Trust Bank PLC announced to the Colombo Stock exchange, the company has declared the First and Final Dividend of Rs.2 per shares. This dividend is for the financial year of 2010.
The Above Dividend announcement subjective to the shareholders approvals on Annual General Meeting on 30th march 2011
Further the company says the Ex dividend date will be 31st March 2011and the payment will be on 8th April 2011.
Today share Price trend
Today 21st February 2011, the markets open the price on Rs84.00 and closed by Rs.83.10. the day trends was Rs.83.00 to Rs.84.00.
My View
The Dividend Announcement of Rs.2.00 per share is comparability good for the investors, to compare the today’s Seylan Bank PLC dividend the Nations Trust Bank PLC dividends are will create confidence toward the company.

Source: http://www.cse.lk/companiesprofile/announcments.htm?id=9&symbol=NTB.N0000

Seylan Bank PLC Dividend Announcement
Colombo Stoke Exchange [CSE] Today

Seylan Bank PLC Dividend Announcement

Seylan Bank PLC Dividend Announcement
About
Today 21st February 2011, the Seylan Bank PLC announced to the Colombo Stock exchange, the company has declare the First and Final Dividend of Rs.1 per Voting and non Voting shares. This dividend is for the financial year of 2010.
The Above Dividend announcement subjective to the shareholders approvals on 30th march 2011.
Further the company says the Ex dividend date will be 31st March 2011and the payment will be on 8th April 2011.
Today share Price trend
Today 21st February 2011, the markets open the price on Rs.91.30 and closed by Rs.90.20. the day trends was Rs.89.20 to Rs.94.40.
As compare to the other banks the dividend is not good enough, but we can assume the Seylan Bank PLC may involve in the future development; therefore the dividend is lesser compare to the other banks in industry.
Source: http://www.cse.lk/companiesprofile/announcments.htm?id=42&symbol=SEYB.N0000

Lanka Walltile PLC 9,100,000 shares were listed today
Colombo Stoke Exchange [CSE] Today

Lanka Walltile PLC 9,100,000 shares were listed today

Lanka Walltile PLC 9,100,000 shares were listed today
Trading
The Lanka Walltile PLC, announced to Colombo Stock Exchange, the 9,100,000 Ordinary voting shares were listed on today 21st February 2011.
Abut Capitalization of reserves
The Lanka Walltile PLC issued new shares of 9,100,000 shares as a proportionate of 1 share for 5 exiting shares at the Price of Rs.24.00
The share issues were capitalized the reserves of the Lanka Walltile PLC.
Source: http://www.cse.lk/companiesprofile/announcments.htm?id=67&symbol=LWL.N0000

Hatton National Bank PLC Final Dividend
Colombo Stoke Exchange [CSE] Today

Hatton National Bank PLC Final Dividend

Hatton National Bank PLC Final Dividend
About
The HNB announced the Final Dividend to the Colombo Stock Exchange, the dividend of Rs.5.50 per Ordinary Voting and Non Voting shares.
The final Dividend is for the financial year of 2010. And the dividend announcement is subjective to shareholders approvals on the Annul general meet help on 31st March 2011.
The Ex dividend date will be 1st April 2011.
Source: http://www.cse.lk/companiesprofile/announcments.htm?id=172&symbol=HNB.N0000

Amaya Leisure PLC 1st Interim Divided
Colombo Stoke Exchange [CSE] Today

Amaya Leisure PLC 1st Interim Divided

Amaya Leisure PLC 1st Interim Divided
About
The Amaya Leisure PLC announced to Colombo Stock Exchange, the first Interim Dividend of Rs.6.00 per share.
The interim dividend is for the financial Year of 2010/2011. The Ex dividend date will be 1st March 2011 and the payment will be made by 10th March 2011.
About the Amaya Leisure PLC
The Amaya Leisure PLC established on 1981 and quoted on CSE at 1996. The company is in the business of hotelier.
Share Price and Dividend
The shares are traded in CSE at the ranges of Rs.120.00 to Rs.124.00. the Dividend of the Rs.6.00 is a good dividend for the shareholders. While the company announced dividend the company made the short term investment of 49 Million.
And the current Net Assets per share is about the 37.59 as per last quarter report published,
The Amaya Leisure PLC looks forward to a better future of business on behalf of the shareholders.

Source: http://www.cse.lk/cmt/upload_report_file/532_1296469237400.pdf
http://www.cse.lk/companiesprofile/announcments.htm?id=214&symbol=CONN.N0000

Malwatte Valley Plantations PLC Subdivision of shares
Colombo Stoke Exchange [CSE] Today

Malwatte Valley Plantations PLC Subdivision of shares

Malwatte Valley Plantations PLC Subdivision of shares
About Sub Division of 10:1
Today 18th February 2011. The Malwatte Valley Plantations PLC announced to Colombo Stock Exchange that the Board of Directors passed resolution on 15th February 2011decided to recommend to the shareholders the sub-division of both ordinary voting and ordinary nonvoting shares in the proportion of the 10 shares per every 1 share held.
The share proposition will be remaining unchanged cause of subdivision, and the stated capital of the company will be remaining unchanged.
The above subdivision is subjective to shareholders approvals at an Extraordinary General Meeting.
About the Malwatte Valley Plantations PLC
The company established on 1992 and quoted in CSE in 2000. The Malwatte Valley Plantations PLC is in the business of cultivation, processing and sale of tea, Rubber and timber.
Today the Malwatte Valley Plantations PLC share price range of Rs.92.00 to Rs.109.00. if the subdivision is implementing, the share price will be Rs.9.20 to Rs.10.90, with effective.
The Subdivision of the shares will help the Malwatte Valley Plantations PLC to effective share trading in CSE, the helps to reduce the manipulations of share prices.
Source: http://www.cse.lk/cmt/upload_cse_announcements/3981298015174_.pdf

Asian Alliance Insurance PLC announced final Dividend
Colombo Stoke Exchange [CSE] Today

Asian Alliance Insurance PLC announced final Dividend

About The Asian Alliance Insurance PLC announced to Colombo Stock Exchange, that the company has decided to pay the final …Read the Rest

Union assurance PLC announced first and final Dividend
Colombo Stoke Exchange [CSE] Today

Union assurance PLC announced first and final Dividend

Union assurance PLC announced first and final Dividend
About
The Union assurance PLC announced to Colombo Stock Exchange, that the company has decided to pay first and final Dividend of Rs.6.25 per share. The dividend is for the financial year of 2010.
The company further says the Ex-Dividend date will be 28th February 2011, and Payment will be on 10th March 2011.
About Union assurance PLC
The Union assurance PLC established on 1987 and quoted in CSE at 1988. The company is in the business of Life and general Insurance.

Share price and dividend
The Union assurance PLC shares were traded in the range of Rs.155.10 to Rs.155.50 per share. The Dividend of Rs.6.25 per share.
Source: http://www.cse.lk/companiesprofile/announcments.htm?id=425&symbol=UAL.N0000

East West Properties PLC rights
Colombo Stoke Exchange [CSE] Today

East West Properties PLC rights

East West Properties PLC rights
Today 15th February 2011, the East West Properties PLC announced to CSE, the following information’s
Proportion of rights issue : 3 new ordinary shares for every 1 share held.
Issue Price : Rs.10.00 each.
Number of shares to be issued : 103,680,000 ordinary shares.
Provisional Allotment : 14th March 2011.
Ex-Rights date : 15th March 2011.
Dispatch of Provisional Letter of Allotment : 21st March 2011.
Rights trading commences on : 25th March 2011.
Renunciation : 1st April 2011.
Last date of Acceptance & Payment : 04th April 2011.

Source: http://synergyy.com/2011/01/east-west-properties-plc-right-issue/
http://www.cse.lk/cmt/uploadAnnounceFiles/6291294141643_620.pdf
http://www.cse.lk/companiesprofile/announcments.htm?id=403&symbol=EAST.N0000

Property Development PLC announced first and Final Dividend
Colombo Stoke Exchange [CSE] Today

Property Development PLC announced first and Final Dividend

Property Development PLC announced first and Final Dividend
About
The Property Development PLC announced to the Colombo Stock Exchange, that the company has planned to declare the First and Final dividend on Rs.2.00 per share. The dividend is for the financial year for 2010.
The Dividend needs to be approved by the shareholders by the AGM on 23rd March 2011.the Ex-Dividend date will be on 24th March 2011 and the payment will be on 1st April 2011.
About the Company
The Property Development PLC was established in 1980 and quoted in CSE by 1981. The Property Development PLC is in the business of Property development.
Share Price and dividend
The Property Development PLC traded CSE at the Price of Rs.52.00 per share yesterday. The Dividend of Rs.2.00 per share is a better dividend to the investors.
The Dividend is almost the 3.85% from the Share traded Price. It seems a better income to investor other than the Capital gains.
Source: http://www.cse.lk/companiesprofile/announcments.htm?id=71&symbol=PDL.N0000

Talawakelle Tea Estates PLC announced first and Final Dividend
Colombo Stoke Exchange [CSE] Today

Talawakelle Tea Estates PLC announced first and Final Dividend

Talawakelle Tea Estates PLC announced first and Final Dividend
About
The Talawakelle Tea Estates PLC announced to the Colombo Stock Exchange, that the company has planned to declare the First and Final dividend on Rs.2.50 per share. The dividend is for the financial year for 2010.
The Dividend needs to be approved by the shareholders by the AGM on 30th March 2011.the Ex-Dividend date will be on 31st March 2011 and the payment will be on 8th April 2011.
About the Company
The Talawakelle Tea Estates PLC was established in 1992 and quoted in CSE at 2000. The company is in the business of Cultivation & Manufacture of black tea.
Share Price and dividend
The Talawakelle Tea Estates PLC traded CSE at the Price of Rs.44.40 per share yesterday. The Dividend of Rs.2.50 per share is a better dividend to compare the sectors in CSE.
The Dividend is almost the 5.63% from the Share traded Price. Therefore the investors to be happy to held the Talawakelle Tea Estates PLC shares and trading Talawakelle Tea Estates PLC shares.
Source: http://www.cse.lk/companiesprofile/announcments.htm?id=477&symbol=TPL.N0000

Hapugastenne plantations PLC announced first and Final Dividend
Colombo Stoke Exchange [CSE] Today

Hapugastenne plantations PLC announced first and Final Dividend

Hapugastenne plantations PLC announced first and Final Dividend
The Hapugastenne plantations PLC announced to the Colombo Stock Exchange, that the company has plan to declare the First and Final dividend on Rs.2 per share. The dividend is for the financial year for 2010.
The Dividend needs to be approved by the shareholders by the AGM on 31st March 2011.the Ex-Dividend date will be on 1st April 2011 and the payment will be on 11th April 2011.

Source: http://www.cse.lk/companiesprofile/announcments.htm?id=132&symbol=HAPU.N0000

Today’s Colombo Stock Exchange(CSE) Share Price List
Colombo Stoke Exchange [CSE] Today

Today’s Colombo Stock Exchange(CSE) Share Price List

Today’s Colombo Stock Exchange(CSE) Share Price List
About
Today 14th February 2011, the Colombo Stock Exchange shows the positive contributions in ASI and the Negative contributions in MPI.
Market Index Today Previous day
ASI 7811.82 7586.63
MPI 7248.81 7259.81

The overall market Performance is not excellent as expected, but there are 63 positive contributors and 143 negative contributors in CSE today.
Today’s total Turnover is Rs.5.286 Billion with 23,526 trades.
Today CSE: http://www.cse.lk/cmt/upload_cse_report_file/daily_report.pdf
http://www.cse.lk/sectors/tradeSummaryMarket.htm
Today’s Share Price List: http://www.cse.lk/listedcompanies/overview.htm
Source: http://www.cse.lk/welcome.htm

Bench Marking
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Bench Marking

Bench Marking
About
This is a systematic process of critically evaluating the best performance in the market in order to improve the organizational performance.
The objective is to generate a competitive advantage by improving by exiting process.
The benchmarking can be divided into 2
1. Internal Benchmarking
2. External Benchmarking
Internal Benchmarking
The internal benchmarking can be divided further into 2
I. Functional benchmarking
This is where to identifying the best function within the organization and improving the other function in order to the higher level of performance
Example
Comparing the marketing department performance with financial department performance this will help to developed performance.
II. Activity Benchmarking
This is to identifying very successful activity and improving the other activities to in order to achieve higher level of performance.
These are commonly used in a project comparison
External benchmarking
The external Benchmarking also can be divided into 2
I. Competitive benchmarking
This is where to identifying the best organization in the business and evaluating the process to developed the company’s performance into a higher level.
This will help the organizations to learning from the competitor performance.
II. Strategic benchmarking
This is systematic process of identifying the best practices irrespective of the industry in order to improve the exiting process.
This will help the company to learn good things from the other best practices companies to develop.

Process of Benchmarking
1. Top management support and strategies
2. Identifying the specific activity or process to benchmarks
3. Identifies the types of benchmarking
4. Identifies the specific best practices
5. Identifies the gaps between the best practices and the company
6. Developed strategies to reach the highest level
7. Allocate the responsibility to implement best practices
8. Evaluate the performance
9. Monitoring and control the performance
Advantages of Benchmarking
1. This will help the organization to identifies the current position in markets
2. Help to developed a future strategies and objectives
3. Provide a direction for decision making
4. Improve the overall standards within the organizations
5. Help to identifies the customer needs
6. Improve the new practices
Limitations of Benchmarking
1. Fully emphasis on the past success
2. He data’s may be manipulated
3. The benchmarking activity is an uncertainty
4. Will take time to identifies the best practices in market
5. May lead to ignore the customers requirements
6. Limits the innovations and creativities
7. Will take long time to implement.

Business Process Reengineering (BPR)
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Business Process Reengineering (BPR)

Business Process Reengineering (BPR)
About
This is a fundamental rethinking and radical redesign of the business process to achieve a grammatical improvement of cost, quality and Performance.
This concept involves improving the exiting process grammatically to generate a radical result(such a new developments).
Development of BPR
1. Identifies the process to reengineer
2. Developed a process vision and objective
3. Link parallel activities
4. Identifies exiting process and improvements
5. Developed a proto type to ensure successful performance.
Advantages of BPR
1. This will enable the organization to enjoy the competitive advantage
2. Improve the level of performance.
3. Improve the creativity and innovation procedures.
4. Improve customer satisfaction level
5. Adopting the emergent strategy decision making.
Limitations of BPR
1. Negatively influence customer reaction and customer service.
2. May not suited for all industry for a radical redesign
3. May negatively influence core competence of the business
4. May ignore the staffs reactions and emotions
5. May high costly.
6. May lead to lack of focusing the customer needs

Amana Takaful PLC Rights issue of 1:1
Colombo Stoke Exchange [CSE] Today

Amana Takaful PLC Rights issue of 1:1

Amana Takaful PLC Rights issue of 1:1
Rights issue
Amana Takaful announced the Right issues of 1 new share for every 1 share held. The rights is worth of Rs.1.50 each.
Today’s announcement
Today 14th February 2011, in Colombo Stock Exchange published an announcement of following information
Provisional Allotment date : 18th March 2011.
Ex- rights Period (XR) : 21st March 2011.
Dispatch of Provisional letter of allotment : 25th March 2011.
Rights trading commence on : 31st March 2011.
Renunciation : 07th April 2011.
Last date for Acceptance & Payment : 08th April 2011.

Future Expectation from Amana Takaful PLC
The Amana Takaful PLC primary objective of right issues to be meeting the increase capital requirement by regulator under its proposed capital plan and for the company’s future expansion strategies.
Amana Takaful PLC shows a better indicator to future development. Therefore the investors are looking forward to enjoying better capital gain further than their expectation, cause of their development procedures focuses by the Amana Takaful PLC.

Source: http://www.cse.lk/companiesprofile/announcments.htm?id=364&symbol=ATL.N0000
http://synergyy.com/2011/01/amana-takaful-plc-announced-rights-issue/
http://synergyy.com/2011/02/amana-takaful-maldives-pvt-ltd-has-applied-to-be-listing-in-maldives-stock-exchange-mse/

Union Bank of Colombo Limited – IPO
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Union Bank of Colombo Limited – IPO

Union Bank of Colombo Limited – IPO
About IPO
Union Bank of Colombo Limited published their prospectus last Friday. The Union Bank of Colombo Limited issued 15 Million (15,000,000) ordinary Voting shares at the Price of Rs.25 each. The total amount to rise is Rs. 375 Million.
Minimum subscription and dates of Application
The Union Bank of Colombo Limited announced Minimum subscriptions should be 100 shares (worth of Rs.2, 500) application in excess of the Minimum subscription should be in multiples of 100 shares.
Issue opening date is 24th February 2011 and the closing date is 16th March 2011 or the day on which the issue becomes oversubscribed.
Relevant Parties to the Issue
The Union Bank of Colombo Limited IPO Prospectus can be collected from all the trading members of Colombo Stock Exchange, Union bank of Colombo Limited and its Branches, Hatton National bank PLC and its branches and National Development Bank PLC and its branches.
Objectives of the Issue
The objective of IPO is to comply the regulatory requirement and developing the retails and SME banking and corporate banking with IPO fund.
The Balance funding requirements for disbursements would be financed through public deposits, funds available with UBC and borrowings from other financial institutions.
The IPO will enable to broaden the Public ownerships and brand image.
The Issue
Category No of shares to be issue %
Employees of UBC 1,500,000 10%
Customer UBC 2,250,000 15%
Other investor 11,250,000 75%

Union Bank of Colombo Limited
Prospectus: http://www.cse.lk/270808/pdf/UB-prospectus.pdf
Application Form: http://www.cse.lk/270808/pdf/UB-application.pdf
Article of Association: http://www.cse.lk/270808/pdf/UB-articles.pdf

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