Browns Hospital is the latest venture of Brown & Company PLC, the first one established in a chain of secondary …Read the Rest
Tag Archives: Browns Investment IPO
Browns Investments PLC announced to Colombo Stock Exchange that that Browns Investments PLC has acquired 50,000,000 shares of F L …Read the Rest
The Samudra Beach Resorts (Pvt) Ltd a fully own Subsidiary of Browns Investment PLC signed an agreement with Board of Investment of Srilanka to constructing of a 4 Star Hotel with 150 Rooms in Kosgoda.
7th September 2011, the Browns Investments PLC Declare the Interim Dividend of Rs.0.10 per share, for the financial year of 2011/2012.
Today 29th August 2011, the Browns Investment PLC made available their Annual Report of 2010/2011 on Colombo Stock Exchange Website.
27th July 2011, the Browns Investment Limited the recent IPO Company made an announcement to Colombo Stock Exchange about the recent acquisition of Excel Global Holdings (Pvt) Ltd. the announcement made against to Paper articles and made clarification to the general public.
25th July 2011, the Brown & Company PLC announced to Colombo Stock Exchange the Browns Investment Limited, which is a subsidiary of Brown & Company PLC has purchased 100% of Excel Global Holdings (Pvt) Limited Shares at the Consideration of Rs.875 Million.
The Browns Investment Limited published their Audited Financial Statement for 31st March 2011 in CSE website.
The interested investors can obtain the Audit Financial statements for 31st March 2011 from:
Today 22nd July 2011, the Colombo Stock Exchange made an announcement that the Browns Investments Limited will be list on Diri Savi Board of CSE under Diversified Holdings Sector category
Today 1st July 2011, SSP Corporate Service (Pvt) Ltd announce the basis of Allotment for Browns Investment IPO,
Today 30th June 2011, the SSP corporate services announced to Colombo Stock Exchange the Browns Investment Limited IPO oversubscribed by 5.33 times.
Today 23rd June 2011, the SSP Corporate Services (Pvt) Ltd announced to CSE the Browns Investments Limited IPO is oversubscribed of its 50 Million Shares at an issue price of Rs.5.00
Therefore the Issue will be closed at 4.30 PM today as per the prospectus.
The Browns Investments Limited offer for subscribe 50 Million ordinary Voting shares at Rs.5.00 each listing on the Diri Savi Board of Colombo Stock Exchange.
Objectives of IPO
The IPO funds utilized to develop a star hotels in Kosgoda, the hotel will called the Samudra Beach Hotel.
The hotel will be owned, operate and managed by Samudra Beach Resorts (Pvt) Ltd, which is 100% owned by Browns Investments Limited.
The estimated cost of the project is Rs.1.50 Billion. The entirely funded by equity.
IPO: 250 Million
Private Placement: 1250 Million
Total: 1500 Million
The project will be commence in June 2011 and schedule to commercial operations in December 2012.
The Browns Investments Limited made the Private Placement of 830 Million shares at Rs.5.00 each. the private placement generates funds of Rs.4.150 Billion.
Issue opening and closing date
The issue will be open on 23rd June 2011 and will close on 12th July 2011 or on the date the issue is oversubscribed, whichever is earlier.
The minimum subscription will be 1000 Shares (Rs.5, 000.00) the Application in excess of 1000 shares should be in multiples of 1,000 shares.
The Browns Investments Limited is allot the shares on the following approaches,
Category Percentage No of shares
Retail Individual Investors Minimum 40% of offered Shares Minimum 20 Million
Unit trust investors Minimum 10% of Offered shares Minimum 5 Million
Non Retail Investors 50% of offered shares Minimum 25 Millon
The 50 Million shares of IPO are about 2.69% of the issued paid up ordinary shares of the company. The company is seeking permission to list 1,860 Million Ordinary voting shares in Diri Savi Board of Colombo Stock Exchange.
Prospectus, form and Articles of Association
The Browns Investments Limited published its prospectus, Application form and Articles of Associations, such as,
Application form: http://www.cse.lk/270808/pdf/14_06_2011_Browns_Inv_App_Form.pdf
Articles of Association: http://www.cse.lk/270808/pdf/14_06_2011_Browns_Inv_Arti.pdf
1st June 2011, the Browns Investment Limited in principle application has been approving by the CSE.
The Browns Investment Limited looking forward to listing its 50 Million Ordinary Voting shares at Diri Savi Board at the Price of Rs.5.00 each( offer for subscription is Rs.250 Million).
The Subscription will be opening on 23rd June 2011.
Managers of the Offer
Taprobane Holdings Limited.
Registrars to the offer
SSP Corporate Service (Pvt) limited.
The Prospectus will be available to Members firms and trading members on 13th June 2011.