The Rs.767 million rights issue of Anilana Hotels and Properties PLC was fully subscribed yesterday attracting applications over and above the number offered under the rights, the company said.
The rights issue offered ordinary shares in the ratio of two shares for every seven shares held by the registered holders of ordinary voting shares in the company, at an issue price of Rs.7 per ordinary voting share. The company offered 109,624,114 ordinary voting shares, making it a total 494 million shares.
“The offer closed yesterday, raising Rs.767 million, partly to finance the balance construction of Phase-I of the Dambulla hotel and to retire approximately Rs.167 million of existing debt,” the company said in a statement.
Anilana Hotels and Properties Chairman Peter Amerasinghe said they will continue to invest in expansion and debt restructuring to improve the company’s financial position and will actively streamline cost structures by benchmarking best practices from within and outside the country.In addition, Anilana will focus on continuous staff training and development to achieve a high level of service, which would be a hallmark of its resorts in Sri Lanka.
Anilana is one of Sri Lanka’s youngest hospitality brands, already enjoying positive recognition from guests around the world and is a collection of unique and stylish resorts, designed to present Sri Lanka at her most picturesque and beautiful.Two hotels are currently in operation, another hotel and several villas are under construction and additional projects are in the pipeline. Anilana-Pasikuda, the first resort, opened in May 2013, with Anilana-Nilaveli opening to the public in April 2014.
Anilana aspires to be recognized as one of the top hospitality brands in the country in the next five years. Anilana-Damublla and Anilana Villas-Panichchankerni are due to open in the latter part of 2015. The company also has plans to develop three more resorts in the east coast and also start a joint venture development in Colombo City.