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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » New IPO - Selendiva

New IPO - Selendiva

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1New IPO - Selendiva Empty New IPO - Selendiva Sun Jan 24, 2021 10:50 am

Kanishka_2020


Manager - Equity Analytics
Manager - Equity Analytics

The two new entities Selendiva Investments Ltd for hospitality and real estate sectors and a Special Investment Company called SIFCO almost exclusively for the highway sector are to be incorporated under the purview of the Finance Ministry.
     
Selendiva Investments Ltd with Treasury ownership of 51 per cent, public 15 per cent and institutional investors 34 per cent of shares will take over the management control of Hilton Colombo, Grand Hyatt Colombo, Grand Oriental Hotel Colombo, Lotus Tower and unutilised land in Colombo.

Officials said that the Government was pursuing a strategic plan of establishing state-owned companies initially to manage underperforming and underutilised hospitality ventures and already built expressways or expressways/ highways which are under construction.

http://www.sundaytimes.lk/210124/business-times/state-companies-soon-on-the-cse-429431.html

madukp likes this post

2New IPO - Selendiva Empty Re: New IPO - Selendiva Tue Jun 08, 2021 3:43 pm

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Selendiva Leisure to debut on CSE by end of this month: Treasury Secy.

The government is gearing to list several state-owned leisure properties through the special purpose vehicle (SPV) Selendiva Leisure on the Colombo Stock Exchange (CSE) by end of this month.

Selendiva Leisure, which comes under Selendiva Investments, consists of Canwill Holdings Ltd (Grand Hyatt), Grand Oriental Hotel (GOH), Hotel Developers (Hilton) and several other prime real estate properties.

“Selendiva has formed the SPV Selendiva Leisure to consolidate Grand Hyatt, Grand Oriental, Hilton and several other prime properties. A listing is due on the Colombo Stock Exchange hopefully by the end of the month,” Treasury Secretary S.R. Attygalle announced yesterday, joining a session at Sri Lanka Investment Forum 2021.

The government plans to offer a 49 percent stake in the company for public while retaining the majority stake.
GOH was recently refurbished at a cost of Rs.269 million and the government is planning to expand the hotel to the adjoining York Street building, with the funds raised via the listing.

Attygalle noted that Selendiva Investments would acquire the underutilised and underperforming prime real estate and restructure them and raise capital.

Selendiva, which is styled after Singapore’s Temasek, has been divided into three clusters.

The government has already identified several numbers of properties to be placed under these clusters, including the prime land belonging to the Ceynor Foundation, adjacent to the Lotus Tower.

http://www.dailymirror.lk/business-news/Selendiva-Leisure-to-debut-on-CSE-by-end-of-this-month-Treasury-Secy/273-213653

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3New IPO - Selendiva Empty Re: New IPO - Selendiva Tue Jun 08, 2021 4:06 pm

God Father


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