FT short take

Wednesday, 16 November 2011 01:36 - - {{hitsCtrl.values.hits}}

BOC goes for Rs. 5 b listed debenture issue

Bank of Ceylon is going for a Rs. 5 billion listed debenture issue.

The Colombo Stock Exchange has approved in principle the listing of the issue amounting to 50 million unsecured redeemable debentures at Rs. 100 each.

Date of the opening of the subscription list is November 29.

Meanwhile Bank of Ceylon yesterday reported a 32% rise in net profit to Rs. 2.8 billion supported by improved margins.

Interest income rose by 14.7% to Rs. 15.5 billion outpacing growth in interest expenses which rose by 13.5% to Rs. 9.2 bn.

Net interest income consequently rose by 16.6% to Rs. 6.3 billion. BOC’s loan book grew by 18.4% year on year to Rs. 475 billion at the end of the quarter.

Kalpitiya, Waskaduwa resort IPOs coming

The Colombo Stock Exchange yesterday approved in principle two separate IPOs by upcoming Kalpitiya Beach Resort Ltd., and Waskaduwa Resort Ltd., totalling Rs. 478 million.

Kalpitiya’s IPO will be 16.2 million shares at Rs. 17.50 each raising Rs. 283 million whilst Waskaduwa will come with an issue worth Rs. 195 million offering 15.6 million shares at Rs. 12.50 each. The IPOs open on 30 November. Both hotels are luxury resorts with 150 rooms each.

Entrust Securities to list via introduction

The Colombo Stock Exchange has approved an application by Entrust Securities Ltd. to list by way of an introduction on the Diri Savi Board. Accordingly, 33 million ordinary shares will be listed.