Lack of space to accommodate 2.5 mln tourists by 2016, says Hayleys Chairman
For Sri Lanka to achieve the target of 2.5 million tourist arrivals by 2016, more hotels and infrastructure facilities need to be developed in the country. Hotels and resorts would require Alumex products due to its market demand worldwide, says Mohan Pandithage, Hayleys Chairman and Chief Executive.
He made this comment to the Business Times on the sidelines of the press conference to announce the Rs 838 million, Initial Public Offering (IPO) held at the Kingsbury in Colombo last week. Adding to that Mr. Pandithage said, “The company (part of the Haleys Group) has a history of over 25 years and is the market leader in aluminium extrusions with high quality products.”
Listing on the DiriSavi Board of the Colombo Stock Exchange (CSE), Alumex would offer 59.9 million ordinary voting shares to the public comprising of an offer for subscription tranche of 17.9 million shares and an offer for sale tranche of 42 million shares at Rs. 14 each. The IPO will open on March 6th and will close on March 25th unless oversubscribed prior to the closing date. The minimum subscription has been set at 100 shares or an amount of Rs. 1,400.
Speaking at the press conference, Alumex Ltd Managing Director, Rohan Peris said, “The company is well positioned to achieve a tremendous growth with the countless development activities in the pipeline for Sri Lanka and the substantial growth in the construction sector.”