Top brush maker Beira group announces Rs.368mn IPO

14 February 2017 12:01 am - 0     - {{hitsCtrl.values.hits}}

A A A

The leading brush manufacturer, BPPL Holdings, also known as the Beira group, will be opting for a Rs.368.22 million initial public offering (IPO) on the Diri Savi Board of the Colombo Stock Exchange (CSE) next month.
The CSE yesterday said in an announcement that it has given the approval for the IPO, which would issue 30.69 million shares at a consideration of Rs.12 per share on March 7, 2017.
The Beira group offers multiple ranges of brushes under the janitorial, builder, food service and household categories. It also manufactures products using different materials such as vegetable fibres, animal fibres, wire and syntheric fibres for filaments, as well as wooden and plastic blocks.
The group’s factories are based in Ingiriya and use ethical sourcing such as recycled plastic and paper, and sustainable forestry for manufacturing, according to official statements.
The Beira group has been in operation since 1986 and is a large-scale exporter of brushes as well.
CT CLSA Capital (Pvt.) Ltd will be acting as the financial advisors and managers of the IPO, while S.S.P. Corporate Service (Private) Limited will be the registrars to the issue. 

  Comments - 0


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Murder most foul

Sixty-one years ago on September 25, 1959 Solomon West Ridgeway Dias Bandaran

What went wrong in Kandy?

Tragedy struck when a five-storey building caved in and collapsed, killing a

The 20th Amendment Bill Lest We Forget

Strident calls were repeatedly made from many quarters for the 19th Amendment

Public transport 'side-laned'?

“Miss, mantheeru neethiya nisa api bus passen yanna one. Ithin drop eka par