Monday Sep 21, 2026
Monday Sep 21, 2026
Monday, 21 September 2026 03:58 - - {{hitsCtrl.values.hits}}
Aitken Spence Hotel Holdings PLC’s (ASHH) initial public debenture issue has been oversubscribed, with total applications of Rs. 5,654 million received against a maximum issue size of Rs. 5 billion.
The issue comprised up to 30 million listed, rated, unsecured, senior, redeemable debentures with five-year (2026/2031) and seven-year (2026/2033) tenors, at a par value of Rs. 100 each, intended to raise Rs. 3 billion. The company had reserved the option to issue a further 20 million debentures in the event of an oversubscription, to raise up to a maximum of Rs. 5 billion.
Applications received totalled 56.5 million debentures, worth Rs. 5,654 million, exceeding even the upsized maximum by approximately 13%.
On Friday, the company announced subscription details as follows:
The five-year debentures were offered in two structures. Type A carries a fixed interest rate of 13% per annum, paid annually, while Type B offers 12.6% per annum paid semi-annually; both structures yield an annual effective rate of 13%.
The seven-year debentures were similarly offered in two structures. Type C carries a fixed rate of 13.15% per annum, paid annually, while Type D offers 12.74% per annum paid semi-annually; both yield an annual effective rate of 13.15%.
Type A drew the bulk of demand, with Rs. 5,021 million raised across 24 applications. Of this, Rs. 2,400 million came through three applications settled by Letter of Guarantee, Rs. 2,112 million through 12 applications via Real-Time Gross Settlement (RTGS)/Internal Direct Transfers, and Rs. 509 million through nine applications by Bank Drafts and Cheques.
Type B attracted Rs. 629 million across 13 applications, split between Rs. 613 million via RTGS/Internal Direct Transfers and Rs. 16 million via Bank Drafts and Cheques.
Type C and Type D accounted for smaller allocations, at Rs. 2.68 million across seven applications and Rs. 2.02 million across two applications, respectively.
